Praxis Capital Acquires $150 million Multifamily Portfolio in 23 Days

SANTA ROSA, Calif., Feb. 1, 2022 /PRNewswire/ -- San Francisco area based Praxis Capital, Inc. has acquired a $150 million multifamily portfolio in the Atlanta MSA, closing the transaction 23 days after signing the purchase agreement.

With a total of 584 units built in 2000, 2002 and 2008, these three beautiful Class B+ properties are all located in the much sought after Paulding and Forsyth counties, surrounded by good schools, low crime, and high median incomes.  The properties were acquired off-market from a long-term owner and have immediate value-add potential, with comparable rents $300 to $480 higher than effective rents at each property.

Using the conservative underwriting and extensive due diligence for which Praxis is known, the firm performed an exhaustive search before seizing these high potential opportunities. "We've had tremendous success employing similar strategies with properties in this and other states and this property holds promise for excellent cash flow with upside potential," says Brian Burke, President of Praxis Capital. "We foresee these as very desirable properties for both our residents and investors."

For 2021, Praxis Capital's total transactional value exceeded $427 million, including the acquisition of 892 units, and sale of more than 2,000 units.

The Praxis executive team brings nearly $6 billion of transactional experience in the multifamily sector, including ownership/management of more than 107,000 apartment units. Praxis seeks to build a large portfolio of Class A & B housing, consistently unlocking embedded value in multifamily real estate.

To learn more about Praxis Capital and its investment models, accredited investors or advisors may contact Bob Dreher at [email protected] or (707) 703-4500.

About Praxis Capital, Inc. 
Praxis Capital, Inc., formed in 2001, is a vertically integrated real estate private equity investment firm which is focused on value-add multifamily properties in US growth markets. The company currently owns properties in five states.

SOURCE Praxis Capital, Inc.