A 352-unit apartment complex built atop Gwinnett County's oldest former country club just changed hands for $67.2 million. Illinois-based Sherman Residential bought Celadon on Club in Lawrenceville from Atlanta developer Oxford Properties, adding another sizable asset to its growing Georgia footprint. The price works out to roughly $190,909 per unit, a figure that underscores just how much institutional capital is chasing recently built rental housing in fast-growing outer-ring suburbs.
The deal closed on August 25, according to Connect CRE, with Sherman's property page identifying the asset with “XVI Fund.” The 352-unit property sits on a 33-acre site in Lawrenceville, about 30 miles northeast of downtown Atlanta.
From Country Club Fairways to Rental Units
Celadon on Club was developed in 2023 by Oxford Properties on land once occupied by the Northwoods Country Club, which opened in 1959 as Gwinnett County's oldest private country club before it shut down in 2019, according to Urbanize Atlanta. Silver Studio Architects designed the community, and RAM Partners initially handled property management when it opened. The transformation fits a pattern playing out across metro Atlanta, where shuttered golf courses are increasingly being converted into denser residential communities as land for new development grows scarce.
The complex offers one-, two- and three-bedroom layouts across 685 to 1,438 square feet. Amenities include a 3,000-square-foot resort-style pool, a golf simulator, and 16 acres of dedicated green space. Residents also get a direct trail connection to the adjacent 25-acre Club Drive Park, a public amenity with a fishing lake, outdoor basketball courts, and playgrounds, according to Urbanize Atlanta's original coverage of the development.
Sherman Residential's Georgia Buildout
The Celadon on Club purchase pushes Sherman Residential's Georgia portfolio past 800 units, following its approximately $65 million acquisition of the 233-unit Skye Suwanee Town Center in June 2025, according to REBusinessOnline's coverage of the Suwanee deal. With this latest buy, Sherman Residential also owns other apartment communities in the Atlanta metro area, alongside additional multifamily assets scattered across North Carolina, Tennessee, Missouri, Arizona and Texas.
The acquisition arrives as Gwinnett County's population keeps climbing — the county officially surpassed 1 million residents in 2024, becoming only the second county in Georgia after Fulton to cross that threshold, per the Atlanta Journal-Constitution. That growth has fed steady investor appetite for newer, amenity-heavy rental housing throughout the northern suburbs, even as rents at properties like Celadon on Club creep past $1,500 a month for entry-level one-bedrooms.
More Apartments Keep Coming to Gwinnett
Celadon on Club is far from the only new rental product hitting the Gwinnett market. Thompson Thrift broke ground in February on Lineage, a 300-unit complex in nearby Dacula, part of a broader wave of multifamily construction spreading across northern Gwinnett County. Other multifamily projects are also part of the broader wave of construction in Gwinnett County.
