The multi-family market surrounding West Michigan and Kalamazoo in specific, faces an increase and constant demand for clean, affordable, and safe communities. These factors bode well for all properties in G1C Group’s Portfolio. The acquisition of these properties is not only great for the surrounding area but will boast great returns for investors.Austin, TX – July 6th, 2021 – G1C Group LLC, a privately-owned and fully integrated multi-family investment and Business Acquisition Equity Group, announced the acquisition of Woodmere Apartments in Montgomery, AL. and a portfolio of 3 properties in Kalamazoo, MI. The acquisition of these properties will add value and revenue to the ever-growing portfolio of investment properties that G1C Group owns and operates. Furthermore, the revitalization plans that G1C Group has put forward will increase the value of surrounding homes and businesses in the neighborhood.
Developed in 1977, Woodmere Apartments, formerly Legacy of the Lakes, is a 200-unit garden-style community that offers one, two and three-bedroom apartment homes. The newly acquired property is 79% occupied with rental rates ranging from $636 to $874, leaving the opportunity for tremendous value add for G1C Group’s investors. In conjunction with the acquisition, the community is expected to receive renovations to the unit interiors and exterior, in addition to landscape upgrades, along with bringing rents to market level.
The Kalamazoo Portfolio consists of three apartment communities (Austin View Apartments, Humphrey Woods, and Eagles Landing) comprising 100 units purchased at an excellent value point. The Portfolio is an exciting opportunity to acquire well performing assets with minimal risk, as the Portfolio is operating at a stabilized level of operations.
To enhance value of each of these acquisitions, the General Partnership will implement a value-add strategy to consistently increase revenue. G1C Group will improve its condition through a hybrid strategy of planned rehabilitation, enhanced tenant composition, and improved rental rates through exceptional management services.
During a recent press conference, Donald Thomas, Managing Partner of G1C Group was quoted as saying, “We are excited to add Woodmere Apartments and the Kalamazoo Portfolio to our expanding portfolio. Migration patterns since the pandemic have accelerated in favor of southeastern cities like Montgomery, and Rustbelt communities like Kalamazoo, MI and these properties are located in submarkets with strong accessibility to the growing set of demand drivers in their respective regions.”
He went on to say, “We have a strong belief that community support is also essential to creating and maintaining a thriving neighborhood and marketplace, which is why we are investing in interior and exterior renovations. It’s great to give our investors strong returns, but it’s even better to make a positive impact in the community.”
To learn more about G1C Group and their expanding portfolio of promising real estate assets, visit their official website at https://g1cgrp.com/
Media Contact
Company Name: G1C Group, LLC.
Contact Person: Media Relations
Email: Send Email
Phone: 512-333-2125
Address:7500 Rialto Blvd., Bldg 1, #250
City: Austin
State: Texas
Country: United States
Website: g1cgrp.com/
