While the private equity owner of River Oaks was desirous to sell the property, operations had languished, resulting in a diminished value for the property. In an effort to boost the value of the asset prior to sale, Stratus acted as asset manager to oversee operational changes. New property management was brought in and light renovations were performed to boost aesthetics, occupancy levels, and resulting NOI. Once ready for market, Stratus marketed the property on its national platform and sold the property at nearly a 20% premium to the original valuation of the property when Stratus became involved.
Stratus works diligently to procure opportunities for clients that are overlooked by the general market, using all resources available. During one such scouting mission, Stratus uncovered the opportunity to purchase a set of three assets from a family trust, who was aiming to re-organize its assets and redeploy its capital into new ventures. These three properties were a perfect fit for two separate clients who had differing acquisition parameters. Stratus was able to facilitate the sale with two properties selling to one private equity fund, and one to property to a separate fund. The sales process was streamlined..
– After over a year of being marketed by a national firm with zero results, the owner turned to Stratus in an effort to sell the asset. Stratus worked closely with the owner to add cost effective property enhancements and launched into a customized marketing campaign tailored specifically for the property. These efforts resulted in nearly a dozen offers being generated and a final buyer being selected at a price point well above initial expectations.
Stratus was tasked with the sale of The Preserve at Tumbling Creek, a fractured condo community adjacent to the University of North Georgia. Prior to sale, Stratus made recommendations to increase the appeal of the asset and ensuing value. Notably, property management was transitioned to a more responsive firm, various improvements were made to the grounds to increase curb appeal and rents, service contracts re-negotiated, and a large number of remaining condo units were purchased back to gain voting control of the HOA. These efforts combined with a comprehensive and thoughtful marketing campaign, generated for the client a sale price 46% higher than initial valuations!
– In conjunction with Stratus Development, Stratus Property Group identified an underutilized retail site in Kennesaw, GA, close to Kennesaw State University. The land was reimagined as a student housing project and was subsequently entitled for multifamily use. The Stratus team managed all aspects of the project including site acquisition, funding, site design, construction, lease-up/property management, and the ultimate sale of the stabilized asset to a private equity investment group.
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