Capital Square 1031 has sold Fairway View Apartments, a 243-unit multifamily community adjacent to the former Northwood Country Club golf course in a suburb of Atlanta, for $45.75 million.
Located at 3345 Fairway Oaks Dr. in Lawrenceville, Ga., the community is comprised of 26 two- and three-story residential buildings, a standalone clubhouse-office as well as laundry and maintenance buildings. Fairway View Apartments features one-, two-, three- and four-bedroom units averaging 1,089 square feet. Community amenities include golf-course views, coffee and tea bar, playground, sports court, swimming pool and grill-picnic area. Additional amenities include a pet walk and care stations, an outdoor amenity area, a laundry facility, and more.
The property was owned by a group of DST investors who realized 191.72 percent total return, or a 22.43 percent annualized return, from their investment.
