Acquisition of Parkside Crossing enhances workforce housing in Atlanta, while also providing an attractive real estate investment opportunity.
FOR IMMEDIATE RELEASE
August 18, 2021 – Housing analysts agree that the supply of affordable workforce housing in many areas of the United States has not kept up with the demand.
This is particularly true in the Sunbelt, which recently has experienced a rate of inbound migration that exceeds other areas of the country, coupled with robust local economies. Many workforce housing communities in the Sunbelt are located in aging apartment complexes that provide less-than-optimal living conditions for their residents.
Randy Lawrence, Founder and CEO of Prosperity Capital partners recently spoke on the subject of Affordable Housing at IMN’s 5th Annual Middle Market Multifamily Forum.
“I’m always thrilled for the opportunity to speak on how we at PCP are working to provide affordable workforce housing. Part of our corporate mission is to help regular working Americans live better lives. We’re also providing our private investors with the chance to participate in this mission, which I view as a true win-win situation,” Lawrence noted while on a panel of leading multifamily operators.
Lawrence further noted in his remarks at the IMN Conference that his company, Prosperity Capital Partners, is addressing the issue of affordable housing head-on – specifically in the Atlanta, Georgia market. For example, they recently acquired several apartment communities located near Hartsfield-Jackson International Airport, an important economic hub in south Atlanta.
After acquisition of these communities, Prosperity Capital Partners begins a process of updating and modernizing each of the apartment units, as well as the common areas, in order to create better living conditions for the residents.
Within three years of acquisition of one of these apartment complexes, they will have been fully renovated, thus improving the communities around the airport and serving to attract hardworking families to a part of Atlanta experiencing high job growth.
By acquiring and then adding value to these apartment communities, Prosperity Capital Partners also creates an opportunity for individual investors to participate passively as Limited Partners.
For more information about Prosperity Capital Partners’ multifamily apartment investing opportunities, contact them at 727-274-9200.
About Prosperity Capital Partners: In business since 2003, Prosperity Capital Partners currently owns or manages 2,200 units in the Sunbelt, with a portfolio value of $250MM. Its mission is to provide secure, long-term investment opportunities to private investors in order to create generational wealth through passive income and significant tax advantages while making impactful improvements in the apartment communities they own and manage so that residents experience a better quality of life.
Prosperity Capital Partners
12945 Seminole Blvd Building 1 Suite 15, Largo, FL 33778