The Oaks at Carpenter Apartments, Tifton, GA


Investment Highlights

Transaction Value: 

Asset Class:


  • Purchase Date: 11/24/2020
  • Total Purchase Price: $16,250,000
  • Asset Type: Class A Multi Family
  • Projected IRR: 29.73%
  • Website:

Premium Capital Resources together with a strategic experienced JV Partner acquired an off-market new construction 178-unit apartment 60-unit Student Housing community in Tifton, Georgia. The property is comprised of a mix of Duplexes, Town-homes and Garden style units. The seller needed cash to complete the construction and did not have the professional experience of running properties of this sort. Premium and its partners were able to secure this deal at a 7% Cap which is well below today’s market pricing of a 5.5% Cap, by creating a structure whereby we agreed to purchase the property in stages throughout the year as buildings/units become available. The business plan is to take an interest only loan to purchase the existing 150 units and purchase the remaining 28 units as they become available a few months later with 2 years interest only as well. In addition, the plan is to convert the existing office to a clubhouse that will house amenities for the community. Once the full 178 units have been stabilized the plan is to refinance the property and cash out almost all of the invested equity and continue to distribute a 10%+ cash-on-cash return on the original equity balance.

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