Patch Abbey is a real estate investment firm focused on building and managing high-end small to medium-scale apartment properties exclusively within intown Atlanta.
We are passionate about building beautiful properties and providing our tenants with a wonderful living experience.
Why Intown Atlanta
Intown Atlanta has seen a massive transformation over the last two decades, and the attractions this market provides continue to drive persistent growth. Corporate relocations with high paying jobs, a vibrant and well funded startup ecosystem, low cost of living, a temperate climate, and impactful city-backed projects such as the BeltLine have resulted in explosive population growth with no signs of stopping. Metro Atlanta is projected to add an additional 2.9M people by 2050, and the intown population will more than triple.
According to a Haddow and Company report on the intown apartment market, the average monthly rent increased 9.4% over the twelve months ending Q3 2022. Additionally, the occupancy rate of stabilized developments was 97.1%. Rental rates across many new developments are seeing over $3/SF rents, continuing a long trend of rent growth. Consistent rent growth coupled with demand outstripping supply of luxury apartment units result in a significantly risk mitigated investment strategy.
Investment Thesis
Patch Abbey has a track record of remodeling, repositioning, and strategically consolidating parcels in high density areas for new development. Due to intown Atlanta being a resilient and high growth market, we buy and build to hold for the long term. We identify excellently located properties where we can enact significant value add strategies, and once stabilized, pursue permanent cash out refinancing to generate compelling tax efficient returns on invested capital. Holding our assets instead of selling them allows us to continue to benefit from ongoing cash flow, appreciation, debt amortization, and depreciation. Since we want to hold our properties forever, we build them to the highest quality standards to ensure minimal maintenance expense, as well as the ability to attract the highest quality tenants. We believe there is significant opportunity with small to medium-scale apartment properties in generating outsized returns on invested capital, and look forward to continue building upon our portfolio with our partners.
Partners
