April 21, 2016

PointOne Holdings is pleased to announce the sale of Grove Point Apartments, a 312-unit garden-style multifamily apartment community located in Metro Atlanta. The property sold for $27 million or $86,540 per unit and was acquired in January 2014 via Auction.com from special servicer CW Capital for $12.75 million or $40,860 per unit.

In the 28 months since PointOne Holdings acquired Grove Point, we successfully turned the asset from an underperforming distressed property to a leading residential community in the Norcross submarket of Metro Atlanta. PointOne Holdings invested in excess of $3 million in capital improvements to the property which included upgrades to unit interiors, overall repairs to building exteriors, replacement of mechanical, electrical and plumbing and improved curb appeal. Additionally, PointOne Holdings upgraded the amenities by adding a business center, a dog park, a brand new fitness center, outdoor kitchens, a new playground, and a beautiful Zen garden.

During our ownership, occupancy at the Grove Point rose from 85 percent to over 97 percent at the time of the sale. In addition, average rents rose an average of $200 per unit and the property’s net operating income per month increased by 77 percent.

We are extremely proud to have successfully created substantial value for our investors while building a strong and safe community for the property’s residents.

PointOne Holdings is a real estate investment firm headquartered in South Florida and Atlanta with properties located throughout the Southeastern United States and Texas. The firm owns and manages a diversified portfolio of residential and commercial assets valued in excess of $730 million. PointOne Holdings’ core principles are founded on precise investment selection, thorough due diligence, creative deal structuring, strong financial management and proactive and responsive communication. PointOne Holdings’ principals are seasoned professionals with over 40 years of combined experience who have collectively conducted over $1.9 billion in real estate transactions. For more information visit www.pointoneholdings.com