Broadtree Residential, Inc. Acquires 370-Unit Apartment Community in Norcross, GA

Broadtree Residential, Inc. Acquires 370-Unit Apartment Community in Norcross, GA

ROCHESTER, N.Y., Jan. 12, 2018 (GLOBE NEWSWIRE) — Broadtree Residential, Inc. (Broadtree), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), today announced the acquisition of The Reserve at Gwinnett, a 370-unit multifamily apartment community in Norcross, Georgia for a purchase price of $51.0 million.

Built in 1999, The Reserve at Gwinnett is composed of 14 residential buildings totaling nearly 430,000 rentable square feet. In aggregate, the buildings contain 112 one-bedroom units, 194 two-bedroom units, and 64 three-bedroom units, with an average size of approximately 1,160 square feet per unit. All units feature open floorplans with 8 ft. ceilings, walk-in closets, and a patio or balcony. The property also includes 12 attached and 18 detached garages, along with ample surface parking for residents. The community offers numerous attractive amenities, including a new fitness center, modern clubhouse and business center, resort-style swimming pool, grilling area, dog park, and lighted tennis courts.

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