Signature at Sugarloaf represents TruAmerica’s fifth investment in the Atlanta MSA and is in Duluth, one of Atlanta’s best performing suburban markets. The property benefits from its location within Gwinnett County, with direct access to the interchange of I-85 and Route 120. I-85 leads directly to the heart of North Buckhead, and along the way has an interchange with I-285, also known as The Perimeter. Signature at Sugarloaf is also located within the Sugarloaf office submarket, which contains 14 million SF of office space and is home to 38,000 jobs. Both the Infinite Energy Forum and Primerica’s headquarters are within walking distance of the property; North American Properties is developing Revel, a $900 million mixed-use project similar to their Avalon development in Alpharetta, a mile away from the property.
TruAmerica plans to renovate the remaining classic homes and make select, accretive upgrades to the partially renovated homes, exteriors, and amenity spaces.
The 268-unit property was built in 2000. All homes include spacious walk-in closets and washer/dryer connections. The property has been well maintained and has minimal deferred maintenance and exterior repairs, allowing most of the capital to be spent on accretive improvements to the apartment interiors. Upgrades to the apartment interiors in the remaining classic homes will include stainless steel appliances, vinyl flooring, stone countertops with undermount sink, new cabinet fronts and pulls, tile backsplash, upgraded plumbing and lighting fixtures as well as installation of washers and dryers.
TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Potential amenity enhancements and upgrades include selectively upgrading the fitness center, upgrading the outdoor grilling area and tot lot, and adding new furnishings at the pool. Furthermore, painting the exterior and improving the landscaping will help enhance the overall image and curb appeal of the Property.