29th Street Capital Picks Up Atlanta-Area Community

Built in 1974, the 300-unit property last changed hands in 2014 for $24 million.

The Lake House. Image courtesy of Transwestern

Aspen Square Management has sold The Lake House at Martin’s Landing, a 300-unit, garden-style community in Roswell, Ga., to 29th Street Capital. A sale price was not disclosed.

Built in 1974, The Lake House comprises two-, three- and four-bedroom units, with an average size of 1,413 square feet. Common-area amenities include a swimming pool, fitness center and laundry facilities. The property recently underwent a $5.6 million capital improvement plan.

According to Yardi Matrix data, the property last changed hands in 2014 for $24 million.

Located at 1500 Harbor Landing, the community is situated about 23 miles north of downtown Atlanta and within a 1,030-acre master-planned community. 

Transwestern Real Estate Services represented the seller in the transaction with 29th Street Capital. The brokerage team included Senior Managing Directors Mike McGaughy and Jon Kleinberg. In September, 29th Street Capital acquired Live Oak Place, a 308-unit community in San Antonio.

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