Adams Investor Group Acquires Another Profitable Acquisition In The Fertile Fields of Atlanta
Adams Investor Group (AIGP) is pleased to announce a recent acquisition of Pines at Greenbriar Apartments, a 376 unit apartment complex for $16 million located in Atlanta, GA.
Since the end of the real estate crunch nearly a decade ago, Atlanta, GA has been on a steady and very strong growth streak.
Now recognized as one of the most desirable metro areas in the U.S., Atlanta offers the perfect blend of a tremendous job market, a strong local economy and good schools.
Because of these reasons and more, Adams Investor Group (AIGP) has been working in the Atlanta metro area for several years. With a strong attraction for new residents and a host of good properties, AIGP has already acquired, improved and sold several large multi-family properties in this area, and the group is pleased to announce the upcoming purchase of The Pines at Greenbriar.
“Atlanta just keeps offering us home runs,” Brian Adams, founder and manager of Adams Investor Group comments, “And these properties that we’re finding aren’t just solid as is, which of course they are… they offer us a great opportunity to add value for the tenants and boost our ROI as well.”
Pines at Greenbriar is a 376 unit garden style apartment that offers 1, 2 and 3 bedroom units spread across an attractive and mature 26+ acre plot of land. Pines is located just southwest of downtown Atlanta making it a choice spot for residents in a variety of employment categories to live and work close together in a quality setting.
“We also like Pines at Greenbriar because it offers residents a great trifecta,” Adams says, “Great shopping and restaurants are within walking distance, good Atlanta schools and a lot of job opportunity right around the corner. For apartment dwellers, this all spells location, location, location… and you know what that means.”
Adams Investor Group is very pleased by this find. Pines is being purchased for $16 million and the property has an appraised value of $17.4 million. With the purchase capital raised by the investment group of $6 million, the property already has a large built in amount of equity and the opportunity will offer strong cash flow.
Of course, as with all AIGP properties, there are plans for adding value over the next 3 to 5 years.
These value plays have the combined benefit of improving the quality of life for the residents as well as adding equity and cash flow to the property. These value plays include bringing rents up to current market values and reducing expenses. Additionally, AIGP intends to continue the previous owner’s program of improvements which has already included more than $2 million in upgrades for Pines at Greenbriar residents.
“Our conservative goal is always 3 to 5 years,” Adams states, “But of course our track record shows that we tend to work much faster than that. This means a steady and profitable income stream for our investors and a large equity payoff in the near future. What more could anyone want in an investment vehicle?”
AIGP continues to seek new deals that generate long-term wealth and tax advantages for its investing partners.