Adams Investor Group Hits Another Home Run: In 18 Months Created $4 Million of Value
Adams Investor Group (AIGP) is pleased to announce a recent sale of Hairston Woods, a 240 unit apartment complex for $13.25 million located in Stone Mountain, Georgia a suburb of Atlanta.
Once again, Atlanta and its surrounding bedroom communities have proven to offer a solid investment opportunity.
“Atlanta continues to demonstrate itself as an investor’s gold mine,” said Brian Adams of AIGP, “Both for purchasing as well as selling property. What’s really great about Hairston is that we got a great deal, put some work into the community and now can offer it to another investor as a great cash flowing property. Everybody wins – us, our buyer and of course, our residents.”
AIGP acquired Hairston Woods back in April of 2016 for $9.4 million. The property, a sprawling community with mature grounds, good amenities and a solid tenant base was one of those that needed focused attention to bring the property up to its full potential.
AIGP instituted a detailed marketing plan to fill vacancies as well as bring current and new leases up to market rents. Along with making strategic repairs and improvements, AIGP was able to add value to the property both for itself as well as for the residents.
“That’s a key in apartment investing,” Adams continues, “You can’t just go in and jack the rents up and try to squeeze the sponge. You’ll create resident resentment and push good residents out. You’ve got to take your time and demonstrate that while rental rates might increase, so does the value of what tenants receive in return.”
Hairston Woods is a solid property and it’s located in a great area of Atlanta. There are more than 200 businesses right in the Stone Mountain section alone with tens of thousands of employees and job opportunities.
Additionally, downtown Atlanta is not far from the property, offering Hairston residents great shopping and entertainment options within easy reach. On top of that, the local schools are of a very high quality. All of these elements make Hairston Woods a desirable community and was very easy to fill vacancies.
AIGP, in about 18 months, was able to create value of almost $4 million in equity.
AIGP is a syndicate that buys apartment properties – so its primary goal is to make money for its investors, and Hairston Woods has done that admirably.
“We make money when we buy at the right price and in the right market,” Adams comments, “That’s because we’ve taken the time to truly understand the market and do our homework. We’re all in this together and for my part, I take the responsibility of finding, acquiring and managing these investments seriously on behalf of my investor group.”
AIGP has a proven track record of success and this latest sale clearly demonstrates that investing with this syndicate like Adams Investor Group certainly pays off.