ATLANTA—Sugar Mill Apartments, a gated 244-unit garden-style multifamily community in the Northeast Atlanta submarket of Lawrenceville, GA, has traded hands. The sale price: $35.3 million.

Steadfast Apartment REIT III acquired the asset. With the acquisition of Sugar Mill, STAR III has invested almost $320 million with eight multifamily properties in Colorado, Georgia, Illinois and Texas, totaling 2,080 apartment homes. In the Atlanta area, STAR III also owns Reflections on Sweetwater in Lawrenceville and Ansley at Princeton Lakes.

“Sugar Mill Apartments is an excellent addition to the growing STAR III portfolio and represents what we believe is a quality asset with untapped potential,” Ella Neyland, president of STAR III, tells GlobeSt.com. “Overall, the multifamily market remained strong in 2017 with several areas—including the Greater Atlanta market where Sugar Mill is located—experiencing more pronounced fundamental and economic gains compared to other markets. STAR III will continue to monitor opportunities throughout the US.”