The supply of new construction has experienced moderate decline in the past 3 years as measured by the new construction permits . Favorable employment and wage trends will yield to improved vacancy rates.
In aggregate, the multifamily real estate industry is in a good position compared to others and many analysts believe that its growth potential exhibits characteristics of a ‘late-cycle prolonged’ growth
Lexerd Capital Management LLC (“Lexerd”), a New Jersey-based sponsor of private equity funds, today announced that one of its funds has acquired Lakeshore Pointe, a 102 patio-style unit apartment complex in the city of Warner Robins, Georgia. Terms of the transaction were not disclosed.
Lexerd’s average vacancy rates are well below current and forecasted national rates. While the average national vacancy rate is 6.1% Lexerd’s rate approaches 4.5% across all properties a testament of effective management of acquired properties.
Lexerd Capital Management LLC announced today that two of its funds have acquired three properties in Augusta, GA. The properties include Parker Place Apartments, Alexander Place Apartments and Arborside Apartments, all garden style multifamily communities with 139, 127 and 180 units respectively. Lexerd renamed the properties “The Lory of Augusta.”