Large multi-family (5+ units) buy & hold investment in Stone Mountain.
Purchase price: $40,350,000
Cash invested: $100,000
I'm an LP on this deal, Ashland Lakeview Apartment Homes plus Mountain Lake Apartment Homes. 539 Total Units, Atlanta Georgia MSA, purchase price $40,350,000. The strategy that attracted me to the deal was to add value with professional management; the GP brings an in-house property management group with scale in the area.
Other strategies:• Enhance curb appeal and desirability
• Add substantial value to the property by upgrading unit interiors and increasing rents to market rate
What made you interested in investing in this type of deal?
By joining a deal as an LP, I was able to learn the end-to-end deal strategy behind a multifamily value-add deal. Through their investor webinar to 1 on 1 interactions, I was able to discuss the strategy, financials, risks, and exit plan for the deal. At the same time, the targetted returns were attractive with an 8% preferred return and attractive target IRR
How did you finance this deal?
How did you find this deal?
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