Rosemont Dunwoody Capital
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Purchased three properties:
The Falls: March 2013 for $18,000,000 The Legends: March 2013 for $39,000,000 The Mosaic: March 2013 for $34,000,000 Total: $91,000,000 |
Sold three properties:
The Falls: September 2017 for $34,850,000 The Legends: December 2016 for $60,250,000 The Mosaic: September 2017 for $56,650,000 Total: $151,750,000 |
Location:
Atlanta, Georgia
Atlanta, Georgia
Property Description:
The Falls: A 308 unit Class “B” multifamily apartment complex. Initial construction was completed in 1968.
The Legends: A 532 unit Class “B” multifamily apartment complex. Initial construction was completed in two phases from 1982 to 1983.
The Mosaic: A 504 unit Apartment Community. Initial construction was completed in two phases in 1970 and 1972.
All properties went through substantial renovations in 2008 and 2009 and are located within a short drive of any location within the metro area, including Buckhead, Midtown, Downtown Atlanta, and the Perimeter Circle.
Property Objectives:
Capitalize on the previous owner’s renovations and increase the value of well-located apartment complexes as exclusive residences. Positioning the investment team to capitalize on the growing Atlanta, Georgia market.
The Falls: A 308 unit Class “B” multifamily apartment complex. Initial construction was completed in 1968.
The Legends: A 532 unit Class “B” multifamily apartment complex. Initial construction was completed in two phases from 1982 to 1983.
The Mosaic: A 504 unit Apartment Community. Initial construction was completed in two phases in 1970 and 1972.
All properties went through substantial renovations in 2008 and 2009 and are located within a short drive of any location within the metro area, including Buckhead, Midtown, Downtown Atlanta, and the Perimeter Circle.
Property Objectives:
Capitalize on the previous owner’s renovations and increase the value of well-located apartment complexes as exclusive residences. Positioning the investment team to capitalize on the growing Atlanta, Georgia market.
Strategy:
- Capitalize on the renovations with continued amenity improvements as well as the explosion of business on Georgia Route 400.
- Upgraded Clubhouses and renovate fitness centers on all properties.
- Expansion of resident activities improving the rental living experience.
- Implementation of a newly custom designed website to drive traffic to the site and market the property will highlight the accessibility and enjoyment of rental living.
Accomplishments:
- Consistent organic rent growth during ownership to increase occupancy.
- Renovations allowed us to increase rents and promote the property as more exclusive
- The new website was successfully launched and has become a widely-used selling tool and method of communication with new prospects
- Capitalized on high quality properties, renovations, and market location for a successful ownership.