Viking Capital Announces Closing of Latest 240 Unit Acquisition in Atlanta
Marking the 28th Acquisition in the Portfolio
ATLANTA, December 17, 2024 (Newswire.com) - Viking Capital is pleased to announce the successful acquisition of Avondale Hills, a 240-unit, Class A multifamily property built in 2023 and strategically positioned just outside Atlanta. Acquired at an advantageous price of $58,500,000, this off-market transaction reflects Viking Capital's ongoing commitment to securing high-growth assets with exceptional investment potential.
About Avondale Hills:
Avondale Hills is a premier addition to Viking Capital's portfolio, offering a modern, millennial-friendly design that caters to today's affluent renters. The property's location-directly across from a MARTA transit station-provides convenient access to Atlanta's major employers and tech hubs, making it highly attractive to renters seeking both affordability and proximity to the city. With below-market rents, Avondale Hills presents an opportunity for investors to capture immediate rent growth, with projections indicating potential rent increases of $200 to align with the current market.
Key Investment Highlights:
Acquired at a $20 million discount, Avondale Hills stands out as a strategic investment with a strong cost basis and long-term financial stability. This off-market purchase enhances the property's appeal, ensuring that Viking Capital's investors benefit from an advantageous entry price and a robust return potential. Additionally, the property's new construction and superior amenities reduce risk while increasing its attractiveness in a rapidly growing submarket.
About Viking Capital:
Viking Capital is a premier private equity firm specializing in multifamily investments, offering accredited investors access to institutional-grade real estate opportunities in high-growth markets. Committed to delivering risk-adjusted returns and building wealth for its investors, Viking Capital has established a track record of success in strategic markets across the United States. For more information, please visit www.vikingcapllc.com.
Source: Viking Capital
