272 Units — Sandy Springs, GA
Veridian at Sandy Springs Apartments
1800 Windridge Dr, Sandy Springs, GA 30350
UPDATE: This offering is fully subscribed.
Minimum Limited Partner Investment: $25,000
Minimum Tenant in Common Investment: $750,000
IMG identifies Veridian as an outstanding investment opportunity similar to its previous, successful value-add acquisitions in Atlanta.
- 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
Prime Value-Add in Affluent Atlanta Metro Location
|Closing Date:||Jan 14, 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.