Admiral Capital, Elite Street Sell Multifamily Community in Metro Atlanta for $51.2M

NORCROSS, GA. — Admiral Capital Group and Elite Street Capital have completed the disposition of The Fields Peachtree Corner, a multifamily property located on One Ashley Lakes Drive in Norcross, about 20 miles northeast of Atlanta in Gwinnett County. An undisclosed buyer acquired the 490-unit asset for $51.2 million.

Through a joint venture, Admiral and Elite acquired the community in May 2016 for $36.3 million and implemented a repositioning and capital improvements program. Renovations included deferred maintenance, enhancing exteriors and upgrading interior units. Select improvements included fitness center, pool area and other amenity upgrades, replacement of wooden decks and landscaping improvements. Interior renovations included replacing countertops, modernizing kitchen cabinets, appliances and flooring and renovating bathrooms.

Dan Phelan of Newmark Knight Frank handled the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties