Portfolio

Indian Springs

Successful Repositioning of Indian Springs Condominiums (Decatur, GA)
Acquisition and rehab of 15 condo units with 47% occupancy
Value-Add:
– Significant renovation plan implemented to upgrade interiors and landscaping
– Increased occupancy to 100% through renovations and improved management
– Sold for 175% returns

Somerset Apartments

Acquisition and Repositioning of Somerset Apartments (College Park, GA)
Purchased at 50% economic occupancy with 8 of the 40 units vacated due to fire
Value-Add:
– Brought in new management company to lease up apartment complex and address significant amounts of deferred maintenance
– Current cashflow in excess of 10% of equity invested and appraised value 35% greater than capital invested

Parkview, Kingsley Village, Hunters Grove

Successful repositioning of a 490 unit, 3 property portfolio (Austell, GA)
– Acquired Parkview, Kingsley Village, and Hunters Grove Apartments for $17M in 2013.
– Properties had economic occupancy below 70%
Value Add:
– Rehabbed down units and increases collections to achieve 90%+ economic occupancy
– Brought in new management company and a provider of youth afterschool programming
– Under contract to sell for $20M generating investors a 15% IRR