Sale of mixed-use community in Atlanta MSA closes
JLL Capital Markets closed the sale of the 252-unit The Fieldhouse, which overlooks Coolray Field
ATLANTA, Dec. 15, 2022 – JLL Capital Markets announced today that it has closed The Fieldhouse, a 252-unit, Class A, mid-rise, multi-housing community with 10,112 square feet of commercial space located within the Atlanta MSA in Lawrenceville, Georgia. The property overlooks Coolray Field, which is home to the Gwinnett Stripers, a Triple-A affiliate of the World Champion Atlanta Braves.
JLL represented Brand Properties. Bonaventure Realty Group acquired the asset.
Built in 2021, The Fieldhouse consists of three buildings ranging from three to five stories and offers studio, one- and two-bedroom floorplans with an average unit size of 833 square feet. The units feature stainless steel appliances, wood-style flooring, spacious patios and balconies and large walk-in closets. The community is filled with baseball-themed amenities, including a rooftop lounge with outdoor party deck, an expansive pool deck with stadium views and two grilling stations with ample seating for two viewing platforms overlooking the stadium, as well as two dog parks, a club and game room, a team workspace with private offices, an entertaining kitchen and bar, a yoga studio and a high-end fitness center.
Situated at 44 Braves Ave., The Fieldhouse is approximately 35 miles from downtown Atlanta. In addition to Coolray Field, the property also benefits from proximity to other entertainment venues, including The Exchange at Gwinnett, TopGolf, Andretti Indoor Karting and Games and The Mall of Georgia. Northside Hospital Gwinnett and Georgia Gwinnet College, which serve as local demand drivers, are less than 10 miles from the property.
The JLL Capital Markets team was led by Senior Managing Director John Weber, Director Vic Ciancetta and Associate Cade Songy.
“Brand Properties delivered a best-in-class asset in The Fieldhouse with unmatched unit finishes and amenities. The attention to detail and thought that went into the project is evident the second you step foot on the property,” said Ciancetta. “Additionally, we are excited to see the property continue to flourish under Bonaventure Realty Group’s ownership and are pleased to have been involved their first purchase in the Atlanta area.”
"Working with Brand Properties and the JLL Capital Markets team was a pleasure throughout the entire transaction,” said Bonaventure Realty Group. “Brand Properties delivers best in class multifamily communities, and we’re thrilled to add the Fieldhouse to the portfolio of Bonaventure communities. The JLL team was extremely helpful throughout the process, and we're looking forward to working on another deal with them coming up in 2023."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Brand Properties
Led by some of the Southeast’s most seasoned real estate professionals, Brand Properties is dedicated to bringing innovative and vital thinking to the real estate investment process. With decades worth of combined experience, the Brand Properties team has successfully delivered more than $1B of multifamily development throughout the Southeast by leveraging long-standing relationships with brokers, property owners, and lenders to ensure premium quality development projects. By always considering our partners, colleagues, and consumer first and foremost, Brand Properties strives to deliver services that embrace its integrity, loyalty, quality, and passion for the real estate business.
About Bonaventure Realty Group
Bonaventure is a vertically integrated real estate company specializing in property management, investment management, architectural design, development, and acquisitions of multifamily rental properties throughout the Mid-Atlantic and Southeast. Headquartered in Alexandria, Virginia, Bonaventure is considered one of the top 15 most experienced HUD developers in the nation. Bonaventure has completed over $2.25 billion in transactions, $500 million in HUD loans, and manages 6,000 units.