ATLANTA (PRWEB) FEBRUARY 06, 2019
PointOne Holdings announced the sale of Southwinds Point Apartments, a 240-unit garden-style multifamily apartment community located in Metro Atlanta’s city of Stockbridge. The property sold on January 10th, 2019, generating a return multiple of 2.5 times the total equity invested in a period of three and a half years.
During the period in which PointOne Holdings owned and operated the property, occupancy increased from 92 to 99 percent and average effective rents increased by 37 percent. PointOne Holdings drove the property’s quarterly net operating income from $302,000 to $421,000, a 40 percent increase. Southwinds Point was successfully managed by Pegasus Residential.