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WE APPROACH EVERY DEAL WE DO WITH A UNIQUELY TAILORED BUISNESS PLAN, AND STRIVE TO LEAVE EACH PROPERTY BETTER THAN WE FOUND IT
550 Abernathy was acquired as a value-add investment in suburban Atlanta, GA. Although the neighborhood had seen rapid improvement at time of acquisition, the property had received little recent capital investment and was lagging behind its comps.
By implementing a comprehensive upgrade program to the property's amenity package, clubhouse, and unit interiors, StoneBridge was able to increase market rents by more than 25% in the first year of ownership.
Glenwood Apartments was acquired as a heavy repositioning project in Washington's up-and-coming Eckington neighborhood.
At the time of acquisition, Glenwood suffered from high vacancy and bad debt, and was plagued by more than 100 housing code violations. By negotiating a Voluntary Agreement with the tenants, StoneBridge was able to invest the capital necessary to elevate the building to current market standards, while driving revenue growth on unit turnover.
The Arbors at Branch Creek was an acquisition of a distressed loan after a failed condominium conversion.
StoneBridge purchased the note on approximately 50% of the unsold condos from the FDIC, foreclosed on the loan, and began operating the bulk as rentals. Through a combination of short sales and foreclosure auctions, SBI was able to acquire 99% of the units over a two-year period, allowing for a collapse of the condominium regime and an exit to an institutional investor.