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Brentwood | Arbors: A Case Study
Decatur, GA
Asset Profile
- Property ClassC+
- Address3799 N Decatur Rd
- SubmarketEast Decatur, GA
- Year Built1969
- Size156 units
A Smaller-Budget Project Produces Excellent Results
Brentwood is a 156-unit multifamily complex in Decatur, Georgia. The property is well-situated on 11 acres of land in a growing area known for its artistic and educated populace.
Before Messis Capital acquired the property, additional class C residential development was already in progress nearby, and adjacent tracts of land were also being acquired. This suggested that Brentwood was in the path of growth, another advantage in addition to its location close to neighborhood amenities and its access to Greater Atlanta.
However, at the time, Brentwood was in need of extensive renovation. While the property was well built and structurally sound, its apartments were out-of-date and its amenities dilapidated. Messis Capital had limited capitalization for the project, with only $1.6 million to put toward improvements for all 156 units plus common areas, which included a swimming pool.
Leveraging Creative Solutions
Messis Capital’s approach to every project is to focus investment dollars on time-tested accretive capital expenditures and intrinsic value-add enhancements that are most relevant and impactful for residents. With the Brentwood complex, carefully choosing where and how to make upgrades would make all the difference in the opportunity’s outcome.
To get the most value from a limited budget, Messis Capital’s branding and development affiliate and an architectural partner teamed up to identify key areas for improvement. The two firms collaborated on design and implemented attractive but economical revisions to all 156 apartments. The cost was limited to about $10,000 per unit.
In addition, Messis Capital:
- Took advantage of the property’s large but underutilized pool. Strategic improvements transformed the amenity into a major selling point, which was successfully promoted as the biggest and most desirable pool in the submarket.
- Added an attractive new leasing office to give a more welcoming experience to new tenants.
- Created a business center to provide residents with WiFi and computer access for afterschool programs. This measure was both for tenant retention and in pursuit of Messis Capital’s mission to offer inspiring housing options for underserved communities.
Qualified Investors
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