ATLANTA, October 6, 2023 (Newswire.com) - Viking Capital, a leading private equity firm, has successfully been awarded Stewart’s Mill, a thriving 188-unit apartment community near Atlanta, Georgia. This strategic move comes at a purchase price of $28.2 million, solidifying Viking Capital's presence with a tenth asset in the dynamic Atlanta metro.
The investment outlook for Stewart’s Mill is highly promising, with projected annualized returns (AAR) ranging from 16-18%. Additionally, a projected equity multiple of 1.8 to 2.0x underlines the strong potential of this acquisition and investors. Notably, the purchase price represents a substantial 17% below the market average, showcasing Viking Capital’s strategic acumen.
Stewart's Mill is located in the sought-after I-20 West submarket, granting residents exceptional access to major job centers in Atlanta, including downtown Atlanta and the sprawling Fulton Industrial Corridor. This prime location ensures a convenient commute for residents.
With Atlanta’s 29-county Metropolitan Statistical Area ranking as the ninth-largest and one of the fastest-growing in the nation, Viking Capital’s latest acquisition aligns seamlessly with its commitment to high-potential markets.
Viking Capital's vision for Stewart’s Mill encompasses an extensive value-add renovation on over 73% of units. This strategic investment underscores Viking Capital's dedication to providing enhanced value, with the potential to achieve rental premiums exceeding $175 per unit.
Join our upcoming webinar to learn more: https://go.vikingcapllc.com/optin-org1695520057671
For more information or media inquiries, please contact:
Ashley Penrod, Marketing Manager, [email protected]
About Viking Capital:
Viking Capital is a prominent real estate investment firm specializing in strategic acquisitions and value-added repositioning of multifamily properties. With over $752 million in assets managed across 24 properties, Viking Capital offers strong returns and investment diversification.Contact Information:
Director of Marketing
Original Source: Viking Capital New Investment Offering