Trade Winds Real Estate, a New York-based private real estate investment firm, has announced that it has completed the acquisition of The Meadows, a 194-unit rental property in East Montgomery.
"Today, The Meadows boasts 99% leased occupancy and 94% physical occupancy," says Peter Spiro, owner of Trade Winds Real Estate. "We anticipate keeping those numbers high while performing all necessary updates to the property. Our business plan is to improve the properties we acquire, and then strategically raise rents to match the value we create."
According to Apartment Finder, the location of The Meadows is strategically advantageous. It is near the several well-established local businesses and establishments such as the Maxwell and Gunter Air Force Bases, Alabama State University, Auburn University at Montgomery, Jackson Hospital, Riverfront Park, Alabama State Park, Eastdale Mall, Martin's Restaurant, Zaxby's, Wings And Things, Mellow Mushroom, Texas Roadhouse, Alabama Shakespeare Festival, Montgomery Performing Arts Centre, AMC Festival Plaza 16, Planet Fitness, and World Gym. So far, there are not so much competition for rental properties in the area, making the acquisition of The Meadow a good financial decision.
"The Meadows is close to everything, which is a huge bonus for both investors and residents," continues Spiro. "Attracting and retaining quality tenants will not be an issue. We already have an outstanding property manager in place to ensure a smooth transition as we turn The Meadows into a top-notch property for the East Montgomery community."
According to the press release of Trade Winds Real Estate in PR Newswire, The Meadows has 24 buildings in its 20 acres of land. Most of its units offer a townhouse floor plan with two bedrooms and 1. 5 baths - 113 fit this description. Built in 1972, The Meadows features amenities including a pool, playground, community laundry room dog park, small pond, and an indoor fitness center.