RangeWater Purchases 258-unit Multifamily Property In Suwanee, GA For $62.8M

The multifamily property located at 1460 Distribution Drive in Suwanee, GA, was recently sold for $62,800,000. This property, known as Provenza at Old Peachtree in Gwinnett County, consists of 258 units with a price per unit of $243,411. The total square footage of the property is 14, with a price per square foot of $4,485,714.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $62,800,000
• Units: 258
• Price per Unit: $243,411
• Square Footage: 14
• Price per Square Foot: $4,485,714
• Address: 1460 Distribution Drive, Suwanee, GA
• Market: Suwanee, GA

RangeWater, a company known for its unconventional approach to purchasing properties, acquired the Provenza at Old Peachtree for $62.8 million. RangeWater opts to use cash for acquisitions instead of relying on acquisition loans. With plans for minor renovations and competitive rent structures, RangeWater continues to make strategic investment moves in the real estate market.