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JLL Income Property buys suburban Atlanta apartment complex for $47M

Jones Lang LaSalle Income Property Trust Inc. purchased a 210-unit apartment complex in Johns Creek, a suburb of Atlanta, for around $47 million.

"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," JLL President and CEO Allan Swaringen said in a release.

This is JLL's second acquisition of an apartment complex in an affluent suburb near a major U.S. city this summer. The company acquired Jory Trail at the Grove, a 324-unit apartment complex in the Portland suburb of Wilsonville, Ore., for $75 million on July 18.