The Bullish Case for ATL Multifamily RE in the Face of Rising Rates
Viking capital is a Real Estate private equity investment firm based out of Washington DC that focuses on Multifamily value add opportunities in the sunbelt. We are presenting our first acquisition in 2023 which is Crossings at McDonough. This 2005 institutional quality asset has no deferred maintenance and has rents that are $300 below market. Viking Capital has expertise in this fast growing submarket of Atlanta by purchasing a similar vintage 368 unit property in January 2021 for $53M and have current evaluations of over $80M plus.
The Crossing at McDonough is a 252 unit apt community in Atlanta. We are acquiring Crossing at McDonough at a 20% discount below its previous pricing. The average rent at this 2005 built A Class property is between $200-$500 below market. This property provides a unique value add opportunity as 2/3rds of the interior units are not fully upgraded and we will be doing elite finishing including quartz countertops, vinyl plank flooring, stainless steel appliances, LED lighting, upgrade the cabinetry, as well as new modern paint scheme to the property and converting the tennis court to a pickleball court and refreshing the clubhouse. Compared to the submarket our units are significantly larger with quality amenities with close proximity to shopping, jobs and medical centers.
- Crossing at McDonough is a 252 unit apt community in Atlanta
- Viking is acquiring the Crossing at McDonough at a 20% discount below its previous pricing
- The average rent at this 2005 built A Class property is between $200-$500 below market
- Compared to the submarket our units are significantly larger with quality amenities with close proximity to shopping, jobs and medical centers
Event Recording
The Bullish Case for ATL Multifamily RE in the Face of Rising Rates
- the Crossings at McDonough Investment DeckThe Crossings at McDonough Final.pdf115 MB
Speaker
Dr. Vikram Raya, MD, FACC
- Title
- CEO / Founder of Viking Capital @
- Company
- Viking Capital
- Role
- Speaker
Vikram is a trained cardiologist and functional medicine physician. He is an international speaker, high-performance coach, and avid real estate investor. He has been active in multifamily real estate since 2015 and is a Founding Partner and CEO of Viking Capital Investments. As a real estate private equity firm, Viking Capital is approaching 4900 units and $720 Million of assets acquired. Vikram has raised over $180 Million in private equity from high-net-worth individuals, doctors and other professionals around the country who want to achieve true wealth and diversify their income. Vikram was elected into the Forbes Business Council, and was Commemorated by US Congressman Tim Connolly and Don Beyer into Congressional Record for excellence in Entrepreneurship. He recently gave a keynote lecture at the CNN Headquarters in Atlanta with Dr. Mehmet Oz on entrepreneurship. He also is the recipient of the prestigious Outstanding 50 Asian Americans in Business Award on Wall Street. Most recently, he's made the Inc 5000 list of the fastest-growing private companies in the US.
About
Viking Capital
Viking Capital is a national multifamily investment firm with over 700 million dollars of assets acquired with a near term goal of $1 Billion. Focused on acquiring key assets across major metropolitan statistical areas (MSA’s) demonstrating consistent rent growth and low vacancy. Viking’s value-add business plan repositions properties through operational efficiencies, moderate to extensive renovations and complete rebranding. We believe in doing good through real estate by impacting communities, tenants, investors, and the environment.