Boron Capital has purchased apartment complexes in emerging market DeKalb county, Georgia. Boron will implement core company standards, improving rental criteria while bringing rents up to market rates, and taking advantage of untapped upside potential.
DeKalb County is quickly becoming one of the most populated counties in the metro Atlanta area. Sustained physical and economic growth, access to numerous employment centers, and popular retail destinations are a few of the reasons residents are attracted to the area.
Supply and demand conditions are favorable in DeKalb County for apartment investors. DeKalb County’s solid demographics and household incomes easily support the current effective rents in the submarket.
Atlanta’s population has increased dramatically since 2000, rising by 33.5%. With a growing population comes employment growth, which allowed businesses in the metro to hire 110,000 in 2014. The ARC projects an additional 3M people and 1.8M jobs over the next 3 decades.
The county’s economic growth, access to employment, and reputation for quality retail destinations make the area very desirable. With over 700,000 residents, DeKalb is Georgia’s third largest county. The “Clifton Corridor” is a vibrant employment area encompassing roughly 30,000 jobs supported by Emory Hospital, Emory Medical School, Children’s Healthcare of Atlanta, VA Hospital, DeKalb Medical Center, and the National Center for Disease Control.
Boron Capital intends to generate cash for distribution to its Members from operations with an eventual resale (disposition) of the Properties.