SMYRNA, GA – Wood Partners, a national leader in real estate development, announced the grand opening of Alta at Jonquil, a 266-unit luxury apartment community in Smyrna, Georgia.

Developed as a part of the Jonquil Plaza — minutes from Cumberland and the Galleria area — Alta at Jonquil has convenient access to 1-75, I-85, I-20 and is approximately 20 minutes from Hartsfield Jackson International Airport.

Next door to Publix, and walking distance to numerous restaurants, and specialty retail stores, the community was developed for residents who currently work in Atlanta, and are drawn by the desire of living in a walkable neighborhood with a small-town feel.

“Alta at Jonquil is a unique community in the Atlanta MSA offering all of the modern conveniences of in-town living but with a small town vibe,” said Bennett Sands, Development Director for Wood Partners in Georgia. “The neighborhood restaurants and pubs offer local charm, the Battery (Home of the Atlanta Braves) offers a world-class entertainment destination, and the location offers convenient access to the best office markets in the City.”

Alta at Jonquil features forward-thinking, convenience-driven community amenities, including an outdoor biergarten with seating and dining areas, outdoor fireplace and grills, a luxurious pet spa, a resort-style saline pool, and a 24-hour health and fitness studio.

Wood Partners is a national real estate development company that buys, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country. The company has been involved in the acquisition and development of more than 67,000 homes with a combined capitalization of more than $11.0 billion nationwide. The company currently owns more than 70 properties with a combined total of over 20,000 units.

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NEW YORK, NY – Mortgage rates went lower once again this week, with the benchmark 30-year fixed mortgage rate dipping to 4.04 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.26 discount and origination points.

The larger jumbo 30-year fixed retreated to 4.05 percent, and the average 15-year fixed mortgage rate dipped to 3.28 percent. Adjustable mortgage rates were mostly lower, with the 5-year ARM pulling back to 3.48 percent and the 7-year ARM settling at 3.66 percent.

Mortgage rates declined modestly this week, but for the fourth week in a row, bringing rates back to mid-June levels. Much like the lack of volatility in the financial markets, we’re seeing only subtle movements in mortgage rates. The average 30-year fixed mortgage rates has been in a range of just one-seventh of a percentage point since mid-May. The movement toward lower rates seen this week came as the latest economic data reveal weakness in manufacturing, personal income, personal spending, construction spending, durable goods sales, and inflation. The lack of volatility may prove small-lived but as deadlines to raise the debt ceiling and avert a government shutdown both loom in the next two months. The further we get into a game of chicken on both of these, the more likely investors are to get nervous and financial markets get turbulent.

At the current average 30-year fixed mortgage rate of 4.04 percent, the monthly payment for a $200,000 loan is $959.45.

SURVEY RESULTS

30-year fixed: 4.04% — down from 4.09% last week (avg. points: 0.26)
15-year fixed: 3.28% — down from 3.31% last week (avg. points: 0.24)
5/1 ARM: 3.48% — down from 3.50% last week (avg. points: 0.34)

Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets. For a full analysis of this week’s go in mortgage rates, go to www.bankrate.com

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Half of the panelists expect mortgage rates to remain more or less unchanged. The remainder are divided, with 30 percent forecasting an increase in mortgage rates over the next week and 20 percent predicting a decline.

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ATLANTA, GA – JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT announced the acquisition of The Reserve at Johns Creek Walk, a highly amenitized 210-unit apartment complex located in the affluent Atlanta suburb of Johns Creek, which has been ranked ‘3rd Best City to Live in the United States’ by USA Today. The buy price was approximately $47 million.

Atlanta is recognized as the economic engine of the Southeast with a population that is expected to grow by seven percent over the next five years. The Atlanta metro area ranks second out of 147 cities in LaSalle’s Regional Economic Growth Index due to a robust job and population growth outlook making an upside for apartment demand. New apartment supply in Atlanta’s suburbs has averaged just one percent of existing stock since 2014, approximately half of the net absorption rate. This has led to growth in average annual apartment rents of over seven percent for the past three years.

The Johns Creek suburb of Atlanta features a wealthy, well-educated demographic, ranking as the 13th highest earning city in the country and one of the 10 richest in Georgia. Housing values ($421,000) and household incomes ($144,000) are nearly double Atlanta’s average. The highly desirable school system has attained LaSalle’s Gold Level ranking with a high school that is rated #2 in Georgia by Niche and #11 in Georgia by U.S. News (top two percent).

“The Reserve at Johns Creek furthers our apartment acquisition strategy of identifying suburban locations within highly rated school districts with attractive demographics and significant barriers to entry,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $650 million, with over 2,500 total units and represents 27 percent of the value of the overall JLL Income Property Trust portfolio.”

The apartment complex is strategically situated equidistant to Georgia 400 and I-85, at the center of of Atlanta’s high-growth technology and information sectors. It is adjacent to a master-plotted Technology Park with upwards of 10,000 new jobs, and is proximate to significant walkable retail spaces including six restaurants. The complex features craftsman-style architecture and a full complement of modern tenant driven amenities.

JLL Income Property Trust is an institutionally managed, daily valued perpetual life real estate investment trust (REIT) that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

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