Atlanta-based Clark Ventures bought Walton Lakes, a 305-unit market-rate community, and the adjacent Legacy at Walton Lakes, a 126-unit LIHTC community for residents 55 and older, from Walton Communities, LLC. The two properties sit together on 35.83 acres at 4687 Camp Creek Parkway in South Fulton, six garden-style buildings completed in 2009.
JLL Capital Markets represented the seller and also arranged the buyer's affordable-acquisition financing for the Legacy portion, while Clark Ventures assumed the existing HUD financing on Walton Lakes itself. JLL's Peter Yorck said the ability to finance the two properties separately, by assumption or new debt, drew a wider pool of bidders than a typical single-loan portfolio sale. Sale price was not disclosed.
Why it matters
The 126-unit senior LIHTC community changes hands with its affordability restrictions and HUD financing intact, the kind of quiet transfer that determines whether affordable housing actually stays affordable after a sale.
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