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NY firm scoops up 316-unit Gwinnett County apartment complex

by John Yellig

Image courtesy of The Praedium Group.

A New York-based national real estate investment firm acquired the 316-unit Broadstone Sugar Hill multifamily complex in the City of Sugar Hill in Gwinnett County for an undisclosed price.

Image courtesy of Broadstone Sugar Hill.

The suburban community offers “limitless resort-style living,” with amenities including a community lounge with terrace views of downtown Sugar Hill, a saltwater pool, a 24-hour fitness center, an art gallery, a history museum and retail, as well as other amenities, according to its website.

The community offers one-, two- and three-bedroom apartments, and one-bedroom rents start at $1,147, while two-bedrooms start at $1,504. Rents for the three-bedroom units were not available.

Broadstone is adjacent to Sugar Hill’s revitalized town center, which includes a 150,000-square foot entertainment district, an ice-skating rink and “The Bowl,” an outdoor amphitheater, the new owner, the Praedium Group, said in a press release. Broadstone is the firm’s second acquisition in Gwinnett County this year.

Image courtesy of Broadstone Sugar Hill.

“Gwinnett County is one of the fastest growing counties in the Atlanta MSA and is projected to be Atlanta’s most populous county by 2040,” Praedium Group Vice President Josh Kogel said. “The property sits in the path of growth as the north Atlanta suburbs continue to attract significant investment from public and private parties, such as the State of Georgia and various corporate employers.

 

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