Lawrenceville apartment community sells for $45.8 million
November 23, 2021
Glen Allen, Va.-based Capital Square 1031 sold the Fairway View Apartments in Gwinnett County for $45.8 million.
The 243-unit multifamily community is located at 3345 Fairway Oaks Drive in Lawrenceville and is adjacent to the former Northwood Country Club golf course.
The property comprises 26 two- and three-story buildings, a standalone clubhouse and office, as well as laundry and maintenance buildings. The community’s apartments range from one to four bedrooms and average 1,089 square feet. Amenities include golf course views, a coffee and tea bar, a playground, sports court, swimming pool and a grill/picnic area.
Capital Square sponsors Delaware statutory trust offerings for Section 1031 exchange and other accredited investors. Fairway View was owned by a group of DST investors who realized a 191.72% total return, or a 22.43% annualized return, from their 1031 exchange investment, Capital Square said in a press release.
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