Fund I
Arium Northpoint
Roswell,
GA
Total Required Equity
$2,900,000
Asset type
Senior Housing
Investment Objective
Value Add
Investment Date
December 2012
Realized IRR
43.03%
Realized Net Multiple
2.61x
Investment Summary
Arium Northpoint was a Class B property in an A location. Roswell, GA was one of Atlanta’s most desirable suburbs with a strong public school system and residents earning nearly 70% more than the metro median. The low density and preserve-like wooded setting around the property offered its tenants a serene atmosphere. Leveraging off the wooded setting, many of the units included a glass enclosed sunroom for the tenants to enjoy the surrounding beauty. Upon acquisition, we updated 75% of the interior units with new appliances, flooring, light and plumbing fixtures and cabinetry. We also painted, refurbished the sports court and pool, and upgraded the landscaping around the exterior.