Acquire
Purchase a 72-unit community in Macon, Georgia, with an opportunity for physical and operational repositioning.
Completed InvestmentSold $5.5M
Macon, Georgia
Riverbend
Georgia · Multifamily Repositioning & Value Creation
- Total Units
- 72
- Units Renovated
- 56
- Sold
- Feb 2023
By the Numbers
72Total units
56Units renovated
$600KCapital improvements
$5.5MDisposition
- Property Type
- Multifamily
- Strategy
- Value-add repositioning
- Status
- Completed · Sold
- Location
- Macon, Georgia
Investment at a Glance
A 72-unit community, repositioned.
72-unit multifamily community, built in 1973, acquired in June 2021.
Riverbend Apartments was acquired as a value-add multifamily opportunity and repositioned through an 18-month capital improvement program. The project combined interior renovations, exterior improvements, property rebranding and infrastructure upgrades. The property was sold in February 2023.
Multifamily Investment & Value Creation
Transforming an underperforming multifamily asset into a stabilized investment.
Riverbend Apartments represents a multifamily value-add investment in Macon, Georgia, involving the acquisition, rehabilitation, operational repositioning, and successful disposition of a 72-unit residential community across nine buildings.
Working alongside Biscayne Companies, VALSAM participated in the execution and value-creation process, combining property improvements with an operational strategy designed to enhance the asset’s performance and long-term market positioning.
Riverbend Apartments
The Investment Strategy.
The investment focused on unlocking the potential of an underperforming residential community through a comprehensive repositioning strategy.
The business plan combined targeted capital improvements, interior renovations, property upgrades, rental optimization, and operational stabilization.
Targeted capital improvementsInterior renovationsProperty upgradesRental optimizationOperational stabilization
The Investment Thesis
Acquisition, renovation, repositioning, disposition.
Improve
Deploy approximately $600,000 of capital improvements, including 56 apartment renovations and common-area upgrades.
Reposition
Refresh the property experience through building exterior improvements, roofing, asphalt, leasing office upgrades and rebranding.
Realize
Complete the investment cycle through the disposition of the asset in February 2023.
Capital Improvement Program
$600,000 invested over approximately 18 months.
56 / 72Apartments renovated
77.8%Share of all units
18 mo.Reported improvement period
Interior work
Renovated apartment spaces, including kitchens, bathrooms, flooring, lighting and finishes.
Exterior and site work
Roofing, asphalt resurfacing, parking-space striping, leasing office upgrades and property rebranding.
Riverbend Apartments
Execution & Value Creation
The repositioning process focused on improving the physical condition of the property, strengthening its rental competitiveness, and enhancing operating performance.
Through coordinated renovation and management efforts, the investment pursued higher rental income and a more stabilized operating profile.
Riverbend Apartments
Investment Outcome
Following the rehabilitation and stabilization process, Riverbend Apartments was successfully sold for a reported $5.5 million, demonstrating the value-creation potential of disciplined multifamily repositioning.
AcquisitionRehabilitationAsset RepositioningOperational StabilizationDisposition
Project developed through a collaborative investment and execution relationship with Biscayne Companies.
Project Photography
The work, documented.
Photographic documentation of the community and the renovated units following the capital improvement program.
Investment Economics
Reported transaction amounts.
- Acquisition price · June 2021
- $2,410,000
- Capital improvements
- $600,000
- Disposition price · February 2023
- $5,500,000
Reported transaction amounts in USD. No IRR, equity multiple or realized investor return is claimed.
Realized Value Creation
A completed multifamily investment cycle.
From acquisition in June 2021 through disposition in February 2023, the project followed a focused value-add strategy: upgrade the housing product, strengthen the property presentation and complete an exit.
The transaction provides a documented example of multifamily investment execution, combining capital planning, physical improvements and asset repositioning.
Approximate location
Location
Macon.
Macon is a Georgia market where VALSAM has extended its multifamily platform beyond its core South Florida footprint.
- County
- Bibb
- Coordinates
- 32.885° N · 83.652° W
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A completed VALSAM investment.
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