The Johns Creek suburb of Atlanta features a wealthy, well-educated demographic, ranking as the 13th highest earning city in the country and one of the 10 richest in Georgia. Housing values ($421,000) and household incomes ($144,000) are nearly double Atlanta's average. The highly desirable school system has attained LaSalle's Gold Level ranking with a high school that is rated #2 in Georgia by Niche and #11 in Georgia by U.S. News (top two percent).

The apartment complex sits equidistant to Georgia 400 and Interstate 85, at the center of Atlanta's high-growth technology and information sectors. It is also next to a master-planned Technology Park with upwards of 10,000 new jobs, and is near significant walkable retail spaces including six restaurants. The complex features craftsman-style architecture and a full complement of modern tenant driven amenities.

“Cap rates remain steady,” Blake Okland, ARA Newmark vice chairman and Head of US Multifamily, tells GlobeSt.com. “Cap rates will potentially go lower throughout the year due to more demand for product than there is supply of available properties.”

Looking for a key differentiator in today's competitive market. Read this.

ATLANTA—The Reserve at Johns Creek Walk, a 210-unit multifamily complex in the affluent Atlanta suburb of Johns Creek, has traded hands. The sale price: $47 million.

JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT acquired the apartment community. Noteworthy is the fact USA Today ranked Johns Creek the “3rd Best City to Live in the United States.”

“The Reserve at Johns Creek furthers our apartment acquisition strategy of identifying suburban locations within highly rated school districts with attractive demographics and significant barriers to entry,” says Allan Swaringen, president and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $650 million, with over 2,500 total units and represents 27% of the value of the overall JLL Income Property Trust portfolio.”

Atlanta is recognized as the economic engine of the Southeast with a population that is expected to grow by 7% over the next five years. The Atlanta metro area ranks second out of 147 cities in LaSalle's Regional Economic Growth Index due to a robust job and population growth outlook creating an upside for apartment demand. New apartment supply in Atlanta's suburbs has averaged just 1%of existing stock since 2014, approximately half of the net absorption rate. This has led to growth in average annual apartment rents of over seven percent for the past three years. (Check out the Atlanta suburb that's reporting a multifamily supply strain.)

The Johns Creek suburb of Atlanta features a wealthy, well-educated demographic, ranking as the 13th highest earning city in the country and one of the 10 richest in Georgia. Housing values ($421,000) and household incomes ($144,000) are nearly double Atlanta's average. The highly desirable school system has attained LaSalle's Gold Level ranking with a high school that is rated #2 in Georgia by Niche and #11 in Georgia by U.S. News (top two percent).

The apartment complex sits equidistant to Georgia 400 and Interstate 85, at the center of Atlanta's high-growth technology and information sectors. It is also next to a master-planned Technology Park with upwards of 10,000 new jobs, and is near significant walkable retail spaces including six restaurants. The complex features craftsman-style architecture and a full complement of modern tenant driven amenities.

“Cap rates remain steady,” Blake Okland, ARA Newmark vice chairman and Head of US Multifamily, tells GlobeSt.com. “Cap rates will potentially go lower throughout the year due to more demand for product than there is supply of available properties.”

Looking for a key differentiator in today's competitive market. Read this.