Hampton Place Apartments offers studio, one-, two-, and three-bedroom apartment homes that include spacious floor plans with gourmet kitchens and balconies or patios. Community amenities include beautiful landscaping, a clubhouse, gated access, a laundry facility, on-call maintenance, a picnic area with a barbecue, a play area, pond access, two saltwater swimming pools, and tennis court.
Investment Overview
In November 2016, Fund I acquired Hampton Place from a local operator who had owned the property since it was developed. StoneRiver quickly improved onsite management, which boosted property performance. StoneRiver also completed some minor amenity upgrades over the property’s 29-acre site. The business plan included addressing deferred maintenance and other discretionary rehab projects. As expected, the investment provided quarterly distributions to its investors throughout Fund I’s ownership of Hampton Place.
Location
Columbus, Georgia
Property Type
Garden Style Apartments
Project Type
Light Value-Add
Year Built
1985 & 1988
# of Units
390
Date Acquired
November 2016
Date Sold
December 2019
Investment Rationale
Management Upgrade – Hampton Place was owned by a local operator that owned the property since it was developed in the 1980s. StoneRiver Property Management improved the property’s overall performance by pushing rents and otherwise providing institutional quality management.
Path of Progress – Hampton Place is located in Columbus’ northeast submarket, which was identified as the City’s path of progress and commercial growth corridor. Hampton Place benefited from several Class A developments constructed in this submarket.