City Park Apartments
208-Unit Apartment Community Investment Opportunity in Atlanta, GA
Investment Intro Video
Investment Promo Video with Drone Footage Flyover
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*Investor Requirements: Income > $200k, (or) combined w/ spouse > $300k, (or) combined net worth > $1M, (or) Accredited investors
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Preferred Return
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Projected Average Annual Distributions (CoC)
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Projected Average Annual Return (AAR)
15 Year Track Record
Multifamily Apartments
MULTIFAMILY UNITS
PORTFOLIO
COMMUNITIES
STATES
Energy Portfolio
NATURAL GAS & OIL WELLS
PORTFOLIO
LOCATIONS
STATES
Why Atlanta
Rapid Job & Population Growth
Most populous city in Georgia
16 Fortune 500 companies headquartered here
Home to the world’s busiest airport
1.9M jobs forecasted to be created by 2040
Economic Highlights
5% Income Growth Last Year
1,981 Flights/Day – Over 723,300 Fly Through the ATL Airport Each Year
25% increase in nonfarm employees over 10 years
9th largest metropolitan area in the U.S. as of 2019
3.1% Unemployment Rate is Below National Average
$54,414 Median Income
Financial Overview
Conservative Financing
Up to 68% LTV
6.52% interest rate
Initial 3 year term with (2) 12 month period extensions
Up to 3 year interest only
Conservative Underwriting
Raising an additional $1,362,237 for 6 months of operating reserves
Conservative assumptions of sale value based on reversion cap rate increase by 10 basis points per year
Break-even occupancy stress test of 75%
Underwriting with an eye towards market trends in 2008-2011 versus 2015-2018
Recession Resilience
Landlord-friendly State
Georgia is a very pro-landlord state.
Government is providing significant assistance programs for residents who cannot pay rent.
In Georgia, eviction bans now lifted and the regular eviction process’ are now fully enforceable.
Resilient Renter Base
B Class residents with higher education and income are less impacted.
Targeting ‘gray collar’ residents, who typically have fewer collection issues and higher paying jobs.
How We Add Value
Existing
Below Market Rent
On average, the current rent is well below market for units with similar interiors.
Under Managed
This property is in need of a maintenance and management overhaul. The current team has missed many opportunities to maximize resident experiences and drive value.
Current Condition
Many units need rejuvenation. Some have not been touched in 20+ years.
The grounds, exteriors, pool, etc need more focus to reach the fullest potential.
Planned
Increase Rent to Market
Renovate units to raise rents ~$300+ to meet market rate for renovated units.
Managed to Excellence
Our experienced management team will upgrade the resident demographic and provide better customer service to tenants.
Update Units, Exterior, and Rebuild 8-Unit building
We will renovate the interior of the units and the exterior complex as a whole to drive up rents and add value.
Planned Renovations
Interior
Install hard surface countertops
New appliance package
Add backsplash
Brushed nickel lighting and hardware package
Renovated bathrooms
Exterior
Rebuild 8 Unit Building
Clubhouse Renovation
Pool, Dog Park, and Playground Upgrades
BBQ Area Upgrades
Exterior Wood and Paint
Siding Repair
Gate Modification
Landscaping Improvements
Investor Requirements
The SEC requires that all investors qualify as an accredited investor
Not sure if you're accredited? Click here.
If you meet JUST ONE of the criteria below, then congratulations, you’re accredited and able to invest!
- With Income – You must have income that exceeds $200,000 per year (OR) You can elect to combine incomes to $300,000 per year if married.
- With Net Worth – Individual (OR) combined net worth > $1M
- Other Criteria – The SEC provides other ways an investor can qualify as accredited. Click here for more info.
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We Are Multifamily Investment Professionals
Experienced
With a combined 100+ years of experience and $500M+ in closed multifamily transactions, we have the subject matter expertise, key relationships, and proven track record to execute profitable deals.
Conservative
We are opportunistic investors focused on creating long term value. We stress test our deals and use leverage carefully to create sustainable cash flow and limit our risk.
Diligent
Closing a deal, while challenging, is the easy part. Executing on the business plan is the hard part. It takes perseverance and persistence to achieve what we set out in our underwriting, and our team strives to knock it out of the park every time.