Updated Oct 21, 2026
Cary Rosenblum Of Elmington Capital Acquires 260-Unit Multifamily Property In Lawrenceville For $55M
4975 Sugarloaf Parkway
$55,000,000
Units
260
Asset Type
MultiFamily
Closing
Oct 20, 2026
About this deal
AI
The property asset involved in the transaction is a 260-unit multifamily property located at 4975 Sugarloaf Parkway, Lawrenceville, GA. It was sold for $55 million, with a price per unit of $211,538. The market value aligns with the characteristics typical for multifamily assets in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,000,000
- Units: 260
- Price Per Unit: $211,538
- Buyer: Cary Rosenblum - Elmington Capital
- Seller: Federal Capital Partners
Elmington Residential acquired The Asher at Sugarloaf, ensuring the preservation of all 260 units as income-restricted housing, with affordability levels tied to various percentages of area median income. The transaction also included an $18 million equity investment from American South Capital Partners.
On the Map
$55,000,000
MultiFamily
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Lawrenceville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93