Current portfolio consist of 1,011 units spread among four properties
Manor at Buckhead (301 Units, Atlanta, GA)
Constructed in 2000, Manor at Buckhead was acquired in April 2006 with Oculus Development and Overland Real Estate Capital. The property consists of 301-unit garden apartment complex consisting of 86 one-bedroom flats, 36 one-bedroom lofts, 120 two-bedroom/two bath flats, 10 two-bedroom/two loft/dens, 41 three bedroom/two bath flats, and 8 three-bedroom/three and a half bath townhome dens apartments. Located at 3558 Piedmont Road, Atlanta, GA, it has a premium location in the heart of Atlanta’s Buckhead neighborhood (often referred to as the Beverly Hills of the East). Ownership has completely refurbished the clubhouse and renovated the units to include granite countertops, hardwood flooring, stainless steel appliances and new fixtures. Current renovated rent premiums exceed $150 to $350 over standard units depending on floor plan.
Manor at Buckhead Renovated Reception Area
Billiard Room
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Club Room
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Village at East Lake (250 Units, Clermont, FL)
Village at Lake Ned (212 Units, Winter Haven, FL)
Village at Park Road (248 Units, Plant City, FL)
Constructed in 2000, The Villages portfolio consists of three properties in Clermont (Orlando, MSA), Plant City (Tampa MSA) and Winter Haven (Tampa MSA). The portfolio is encumbered with HUD debt and closed on March 19, 2009 (recapitalization of the partnerships sponsored by Alex Brown Realty). The previous capital structure prevented much needed capital improvements. Within 60 days of closing, an additional 80 units spread among all three properties were leased, dramatically increasing occupancy and collections.
A renovation and repositioning program began in May 2009 with a focus on project amenities and interior finish. The clubhouse will be substantially renovated to include a state of the art fitness center and club room. Unit interiors will be renovated with kitchen cabinetry and countertops, new flooring, fixtures and hardware.