Zevulon Capital, Inc. announces the purchase of two multifamily assets in Austell, Georgia. The firm acquired a 100-unit community at 420 Shenandoah Trail for $6.7 million, or $67,000 per unit; and a 120-unit complex at 325 Riverside Parkway for $7.6 million, or $63,333 per unit. These transactions bring Zevulon’s multifamily real estate investment portfolio to seven properties and nearly 500 units.
“We’re pleased to grow our investment holdings with two assets that offer tremendous upside potential,” said Levi Polter, Zevulon Capital Principal. “Our strategy has always been to invest in underperforming multifamily communities that are well located and provide the greatest returns to our investors. As we continue expanding our platform, we look forward to entering new and emerging markets in Atlanta and across the Southeast.”
Together with its in-house property management company, Midwood Management, and construction teams, Zevulon will reposition and rename the communities under its Midwood brand. Each business plan focuses on capital improvements to enhance livability for residents, which may include exterior and interior renovations and common area and landscaping upgrades.
Midwood Management will take over property management, handling maintenance, marketing and leasing to improve the communities from the inside out and maximize operational performance.
About Zevulon Capital
Zevulon Capital is a privately held, Atlanta-based real estate investment management firm that acquires and strategically transforms value-add multifamily assets across the southeast. Leveraging extensive market knowledge and industry insights, Zevulon successfully up-positions underperforming communities, creating profitability for investors and elevated living environments for residents. Visit zevcap.com to learn more.