Bonaventure Buys Greater Atlanta Mixed-Use Community
Bonaventure Realty Group has acquired The Fieldhouse, a mixed-use community in Lawrenceville, Ga. The complex features 252 apartments and 10,112 square feet of commercial space on the ground level.
JLL Capital Markets’ Director Vic Ciancetta, Senior Managing Director John Weber and Associate Cade Songy represented the seller, Brand Properties. According to Ciancetta, the transaction marks Bonaventure’s first purchase in the Atlanta area.
In 2020, the Class A property was subject to a $32.2 million construction loan with a 3-year maturity date originated by Fifth Third Bank, according to Yardi Matrix data. The Fieldhouse is also subject to a 30-year unsubordinated net ground lease, held by Gwinnett Convention and Visitors Bureau, the same source shows.
Developed in 2021, The Fieldhouse encompasses three buildings with studio, one- and two-bedroom apartments ranging between 575 and 1,012 square feet. The property’s retail tenants are Three Dollar Café and Cold Stone Creamery. Amenities include a rooftop lounge, an outdoor party deck, a swimming pool, grilling stations, two dog parks, a club room, a game room, a fitness center and a yoga studio. In-unit amenities consist of stainless-steel appliances, walk-in closets, washers and dryers, digital locks and spacious patios.
Located at 44 Braves Ave., the community is near the intersection of Route 20 and Interstate 85, which provides easy access to downtown Atlanta. There are several dining options, retail spaces and green areas in the proximity, such as Mall of Georgia, Collins Hill Park and Rock Springs Park.
Bonaventure has been particularly active in the Virginia market this year, with several sales and purchases. The company has recently acquired Pinnacle and Magnolia Chase Apartments, two luxury multifamily communities in Virginia Beach, Va.