Hollywood – November 17, 2016

PointOne Holdings in a joint venture partnership with Biscayne Atlantic is pleased to announce the sale of Steeple Chase Apartments, a 306-unit garden-style multifamily apartment community located in Metro Atlanta. The property, which was acquired in March 2013 for $13.27 million, was sold today for $26 million.

Steeple Chase is an excellent example of a successful value-add execution by PointOne Holdings.  During our ownership we invested in excess of $1.75 million dollars of capital to upgrade interiors, add amenities, update the property’s infrastructure and improve the overall curb appeal at Steeple Chase.

During the period in which PointOne Holdings owned and operated the property, occupancy increased from 92 to 97 percent and average effective rents increased by 29 percent from $673 to $868 per unit per month.  PointOne Holdings drove the property’s net operating income from $82,100 to $143,900 per month, a 75 percent increase!

We are extremely proud to have successfully created value for our investors by implementing a capital improvement program and executing on a strategic lease-up program while, at the same time, building a strong sense of 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