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the Cushman & Wakefield Sunbelt Multifamily Advisory Group and National Senior Housing Capital Markets Group are pleased to announce the exclusive listing for the sale of Cottages at Celebration Village. Completed in 2022, the collection of 32 attached build-to-rent residences provides an active lifestyle for seniors and shared access to resort-style amenities at the adjacent senior living community, Celebration Village Forsyth. The Cottages are in an exceptionally affluent pocket of the North Atlanta Suburbs. Within a 7-mile radius, the average household income exceeds $175K with a median home value of $498K, and 15K seniors are 75+. Additionally, median home sales within the neighboring submarket of Johns Creek are even higher, exceeding $670k. The Cottages present an exceptional opportunity to acquire an active adult townhome community supported by impressive demographics and established senior population.
Cottages at Celebration Village
32 Units
435 Reserve South Drive
Suwanee, GA  30024
Type: Senior
Posted: 3/3/2023

Cushman & Wakefield Senior Housing Capital Markets ("C&W") in its exclusive representation of Urban Atlantic ("Sponsor"), an experienced Washington, DC based developer, is seeking a limited partner (LP) equity investor for the adaptive reuse redevelopment of a suburban office complex into a 180-unit active adult (55+) apartment community in Fairfax, Virginia, an affluent suburb of Washington, DC. Fair Lakes ("Subject," "Community," "Asset") will offer luxury amenities and finish levels, catering to the sizeable population of seniors in one of the wealthiest areas of the nation with units that are on average greater than 10% larger than the closest competitors.

The Community will be located approximately 22 miles west of downtown Washington, DC with close access to dining, entertainment, and retail. Fairfax is one of the wealthiest suburbs of Washington. Within 10 miles of the site, there are more than 872,000 people, including an exceptional 98,549 seniors age 65+ with over $50,000 in annual income. Additionally, the median home value within a ten-mile radius is an impressive $536,000.

The Site is ideally located within walking distance of East Market at Fair Lakes, a Whole Foods-anchored retail power center with visibility from Route 66, one of the most heavily trafficked arteries in the entire region, and adjacent to a 197-home development sponsored by local developer Peterson Companies with average home sales approaching $900,000.

The Sponsor is seeking approximately $26.4M of limited partner equity. The LP will receive customary rights and controls. Bozzuto, an award-winning national operator headquartered in Washington, DC, is engaged to manage the community upon completion.

Fair Lakes
4300 Fair Lakes Court
Fairfax, VA  22033
Type: Senior
Posted: 9/8/2022