12th & James Luxury Apartment Community in Atlanta Sold for $39M, Transitioning to Affordable Housing
12th & James, a 214-unit luxury apartment community located at 1212 James Jackson Parkway NW in Atlanta, Georgia, has been sold for $39 million. Originally developed in 2002, the property consists of 189 partially renovated units and 25 classic apartment homes, offering a mix of one-, two-, and three-bedroom floor plans.
JLL Capital Markets represented the seller, Aspen Square Management, in the transaction. The buyer, EQ Housing Advisors Inc., partnered with Atlantica Properties to acquire the asset and will transition the development into long-term affordable housing through a public-private partnership. The JLL Investment Sales and Advisory team was led by John Weber, Peter Yorck, Nick Brown, and Dean Shoham.
Under the new ownership, all units at 12th & James will be dedicated to affordable housing. Select one-bedroom units will offer rental rates as low as $1,071, while two-bedroom units may be priced as low as $1,285.
Community amenities at 12th & James include a swimming pool, fitness center, business center, outdoor kitchen, and an off-leash dog park, providing residents with both comfort and convenience.
This transition marks a significant step toward addressing the growing need for affordable housing options in the Atlanta metro area.
