ATLANTA, GA – 1031 Capital Square, a leading sponsor of Delaware Statutory Trust (DST) offerings for 1031 Exchange and other accredited investors, announced the acquisition of SouthLawn Lawrenceville, a newly built multi-family community of retail space in Lawrenceville, a suburb of Atlanta, Georgia. The parish was acquired for CS1031 SouthLawn Lawrenceville Apartments, DST, a Reg. D private placement.
"SouthLawn Lawrenceville is the next in line in a line of newly built Class A multi-family communities in southeast Capital Square," said Louis Rogers, Founder and General Manager of Capital Square. "It's the highest quality, most walkable, mixed-use community in the region. Atlanta is also the business hub of the Southeast. Major employers follow businesses in Peach State. Microsoft, Airbnb, Honeywell, GE Digital and BlackRock are opening key facilities in the region , create jobs and increase the demand for high-quality housing. "
The parish is located at 30 S. Clayton St. and was built in 2020. SouthLawn Lawrenceville consists of 430 units and approximately 15,000 square feet of street-level retail space. The community sits on 14 acres in downtown Lawrenceville and has studio, one, two, and three bedroom units ranging in size from 622 square feet to 1,375 square feet.
The communal facilities include charging stations for electric cars, two bicycle cellars with maintenance stations, a dog park and dog grooming room, two business centers with private workspaces and two private conference rooms. The property also has three resort-style pools with cabanas, including a rooftop pool above the clubhouse, outdoor poolside BBQ areas, a clubhouse with multiple lounges and meeting areas, two fitness centers with Peloton bikes and TRX machines, and lockers for those Parcel delivery for Amazon and other e-commerce deliveries, as well as free-standing garages that can be rented.
Alexandra Huffman, Justin Nelson and Lynn Pearson of Walker & Dunlop withdrew the 10 year acquisition loan with a 3.55% fixed rate home loan.
"The Atlanta area remains an extremely desirable market for institutional investors, having attracted record capital over the past two years," said Whitson Huffman, chief strategy and investment officer. "We are excited to purchase another property in a growth market from a world-class developer so that we can apply a targeted strategy to optimize rental prices when the original leases are renewed."
The community is in the Lawrenceville submarket, which, according to the Yardi Matrix, outperformed the overall Atlanta housing market with an average occupancy rate of 95.9% and rental growth of 6.9% for the year ended February 2021. About eight kilometers from the property is Rowen, a planned research and office park development that is expected to lay the foundation stone in 2023 and will create more than 18,000 jobs in the region by 2035.