#USA #Atlanta #Stone Mountain #Home Invest #East Ponce Village

Home Invest Marks a Milestone with East Ponce Village Acquisition

In a significant move for the company, Home Invest has officially acquired East Ponce Village, a sizable multifamily community in greater Atlanta, comprising 997 units. This transaction, valued at a remarkable $122 million, represents the largest single acquisition in Home Invest’s history, setting the stage for a complete turnaround of the property.

Located in Stone Mountain, Georgia, at 1310 Wood Bend Drive, East Ponce Village was built in 1987 and features an array of amenities that enhance its appeal. The sprawling campus includes two swimming pools, a fitness center, and a clubhouse, as well as units equipped with cozy fireplaces, vaulted ceilings, and private entrances. Although Home Invest was not the highest bidder, the seller chose their offer due to the firm’s proven capability to revitalize distressed properties.

Nate Armstrong, President of Home Invest, remarked, "Closing a community of this size relies heavily on trust from both sides. The seller opted for us because of our established track record of successfully rehabilitating struggling properties. In this instance, the distress stemmed from managerial issues rather than the physical aspects of the building itself."

In a proactive approach, Home Invest began overseeing day-to-day operations prior to the formal closing, which has provided their team with an early advantage in the revitalization efforts. As of the acquisition's completion, the company has already put a property management and maintenance team in place, rejuvenated community amenities, and commenced renovations on the units. Feedback from the local market indicates a high demand with every refurbished unit being leased immediately, resulting in a burgeoning waitlist of prospective residents eager to move in.

"For us, this endeavor goes beyond mere numbers," stated Home Invest CEO Chris Lavin. "Our priority rests on the families residing here who have been underserved. Restoring this community to its former glory, for both the residents and investors, is paramount. Initiating the process early allowed us to make significant improvements across all operational aspects."

East Ponce Village stands among Georgia’s largest multifamily real estate transactions. Moving forward, Home Invest’s turnaround strategy includes extensive capital improvements and a comprehensive overhaul of the resident experience to enhance occupancy and stabilize the community. Their approach emphasizes community engagement through philanthropic events, including holiday fundraisers and programs designed for children's enrichment.

Founded in 2014 by Nate Armstrong, Home Invest specializes in identifying real estate investment opportunities that yield favorable financial returns while prioritizing community impact. The firm operates as a diversified fund manager dedicated to building wealth that enriches lives. Their mission aligns with creating pathways to financial freedom through real estate, simultaneously revitalizing the neighborhoods in which they invest.

With the addition of Chris Lavin, a seasoned investor from BrightCove Investments, as CEO in 2024, Home Invest is positioned to harness additional expertise and resources, further expediting the firm's growth trajectory. Notably, Home Invest has been recognized on the Inc. 5000 list as one of America’s fastest-growing private companies.

For more information about Home Invest and its initiatives, visit www.homeinvest.com.