272 Units • Sandy Springs, GA
Veridian at Sandy Springs Apartments
1800 Windridge Dr, Sandy Springs, GA 30350
IMG is sponsoring the syndication of Veridian at Sandy Springs, a value-add multifamily investment in the Atlanta metro. The offering is available through a 506(c) offering to accredited investors.
Minimum Limited Partner Investment: $25,000 - Now accepting reservations
Minimum Tenant in Common Investment: $750,000 - Call for availability
IMG identifies Veridian as an outstanding investment opportunity similar to its previous, successful value-add acquisitions in Atlanta. The investment features: (1) a purchase price below-market; (2) planned renovations projected to drive rents and increase future income; and (3) a premier Atlanta metro location positioned for sustained appreciation.
Veridian offers a compelling value-add opportunity:
- Located in the affluent North Fulton submarket, one of Atlanta’s largest employment bases and corporate office markets
- High household incomes of $128K within a 5-mile radius of the property
- Super Sun Belt Magnet - Atlanta named a real estate market to watch in ULI’s highly regarded Emerging Trends 2021 report
- Atlanta has seen one of the strongest rent growth recoveries in the country among major markets
- Prior ownership completed a $5M renovation program to elevate the asset
- Strong Operations Through Pandemic - The property increased total income by +5.4% and NOI by +4.9% 2020 YTD compared to the same period in 2019. Occupancy rates at the property and submarket held firm this year, averaging 94%.
Prime Value-Add in Affluent Atlanta Metro Location
|Est Closing Date:||Jan 2021|
|Property Type:||MF, Garden|
|Total Investor Capital:||$16,519,200|
|Funds Due:||Jan 4, 2021|
|Target Hold Period:||5 years|
|Targeted Investor IRR:||14.00%|
|Targeted Equity Multiple:||1.82x|
|Targeted Avg Annual Cash/Cash:||7.72%|
|Distribution Start Date (Est):||May 2021|
“Getting Veridian pre-market at this basis is a big win for our investors. At below $160K per door, it lines up favorably against the comps. Rents are affordable, and the planned renovations are well received by residents. Ultimately, Veridian will deliver the best housing value for the dollar.
Veridian checks all the boxes on our IPA acquisition approach. It’s high-quality housing surrounded by some of the best demographics in Atlanta. The property operated quite well through the challenges of 2020. I expect that strength to continue in 2021 as the market begins to stabilize.”
– Neil Schimmel, IMG Founder-CEO
IMG's 506(c) offerings are available to accredited investors on a first-fund basis.