Retreat At Stone Mountain
Disrupt Equity is thrilled to announce it’s most recent acquisition of Retreat at Stone Mountain in Atlanta, GA! This acquisition was the company’s largest raise to date with a $6.1 million+ raised for the down payment. The Retreat at Stone Mountain complex will soon be rebranded and known as Sterling Chase moving forward. The asset is in a fantastic rising market as Atlanta is expected to add 43,200 jobs in the next twelve months as well as incur an expected population increase of 9.6%. The MPF’s forecast also calls for increases in organic rent growth of +3.3% over the course of the next year.
Disrupt partners Ben Suttles and Feras Moussa receive a lot of joy from improving properties which helps to improve the overall community. This is a very inspiring piece to this process that puts a passion behind their love for Multifamily. Disrupt Equity is building a high amount of economies of scale in it’s Atlanta portfolio and is eager to continue expanding and improving assets!
The Retreat at Stone Mountain complex was built in 1983. The asset features 100% two-and three-bedroom spacious roommate-style floor plans offering high-quality construction elements including pitched roofs, covered exterior breezeways, washer/dryer connections, and low-maintenance brick and vinyl exteriors. The complex also offers many amenities to residents including a swimming pool, sport court, playground, and a variety of picnic areas. In its current state the asset is well kept, but not well managed. There is both a management and value-add play to this investment. Nearby competitors of similar age receive average rents that are $175 to $300 higher than Retreat at Stone Mountain’s average market rent allowing room for growth in earnings.