Adams Investor Group Completes Sale of 376 Unit Apartment Complex
Adams Investor Group (AIGP) is pleased to announce the recent sale of Pines at Greenbriar, a 376 unit apartment complex sold for $23.7 million located in Atlanta, Georgia.
Since the economic chaos of 2008, many things have changed in the country.
One enormous success story that rose from the ashes of the stock and housing market downturn is the Atlanta, GA metro area. This region, now considered one of the most desirable locations in the U.S., has proven itself over and over again to be a true winner.
For residents, Atlanta offers a strong local economy, quality education at all levels, plenty of great shopping and dining, local culture and a solid employment market across a large variety of industries.
For real estate investors, these positives all add up to one thing – the fact that the Atlanta metro area is ripe for making big profits.
Back in April of 2018, Adams Investor Group (AIGP) located a 376 unit garden style apartment complex called Pines at Greenbrier. This was hardly the first acquisition for AIGP, yet it’s typical of their perfect track record.
The investment syndicate raised $6 million from accredited investors to purchase the property at a price of $16 million. Immediately, the group walked into instant equity because the property appraised for $17.3 million when they closed.
“We have a proven formula for success,” Brian Adams, founder of AIGP says, “We have to because as the leader of this group, I have a responsibility to all the investors who partner with us. So my formula, although simple, has proven to work time after time.”
“The formula to success is finding a solid property in a good market with upside potential where you can cut expenses, increase rents and add value by making strategic interior and exterior improvements.”
It’s difficult to argue this point when you look at AIGP’s track record. Within only a few miles of Pines, AIGP has bought and sold other apartments including Mountain Oaks, Flint River, Clifton Glenn to name a few.
“We generally target a 3 to 5 year exit,” Adams stated, “yet time and again, we find that after we make a purchase and start implementing our formula, the equity shoots up, rents rise to meet the market and other investors come knocking on our door with generous offers!”
AIGP is pleased to announce that after these strategic upgrades, rental increases and other management decisions, Pines at Greenbriar was sold for $23.7 million.
In only 17 months of ownership, AIGP added $7.7 million in value to Pines generating a huge return for all of the investors.
As always, AIGP continues to sift the real estate soil of Atlanta looking for the next hidden gem.