Wood Partners Grows Southern Presence
- Feb 20, 2020
A few weeks after opening an upscale development in Fort Worth, Texas, Wood Partners has opened Alta Sugarloaf, a 330-unit luxury community in Atlanta’s suburb of Lawrenceville, Ga. The developer broke ground on the project in 2019, after purchasing the 35-acre site for $7.3 million. According to Yardi Matrix data, the company financed the development with a $32.3 million loan from Pinnacle Financial Partners, due to mature in 2023.
Located at 1399 Herrington Road in Gwinnett County, Alta Sugarloaf offers one- to three-bedroom floorplans, ranging from 672 to 1,442 square feet, in nine three-story buildings. Amenities include a swimming pool, electric vehicle charging stations, dog parks and a bicycle repair room.
Alta Sugarloaf is some 27 miles northeast of downtown Atlanta, just south of University Parkway. The property includes part of the future Lee Daniel Creek Greenway, with several existing Gwinnett County Greenway Trails nearby. Sugarloaf Mills is 2 miles north of the community, while major employers such as Cisco Systems and Primerica Financial Services are within a 2-mile radius.
Wood Partners currently owns 26 multifamily properties, totaling almost 7,400 units, completed or under construction across the Southern U.S., according to Yardi Matrix data. The company broke ground on two of these communities in December.