The Landing on Emerald Pointe

Located in a market that is projected to have strong long-term growth, this 174-unit asset is our second purchase in the last 6 months in the Birmingham, AL MSA. Built in the late 1970s, we'll aim to create a fresh look on the interiors with our new LVP flooring, new appliances/fixtures, fresh paint, and new granite countertops throughout. While the exterior of the property is in good condition, we'll look to enhance the curb appeal by installing new playgrounds, adding a dog park, enhancing the community center, adding pickle ball courts, and installing a fitness center - along with a fresh coat of paint throughout the property showcasing a new/revitalized look to the local community.

Purchased in December 2024, this asset was extremely distressed at acquisition.  At a purchase price of $75k per unit, our confidence is high that the asset can trade north of $110k per unit at completion of our project plan.