TORONTO, Dec. 3, 2018 /PRNewswire/ -- Emma Capital Investments Inc. ("Emma Capital") is pleased to announce the acquisitions of (i) Brandywine Apartments, a 296-Unit Community located at 8444 Rothbury Drive, Indianapolis; and (ii) The Hunt Club Apartments located at 5421 Calder Way, Indianapolis (the "Properties"). These are Emma Capital's 33rd and 34th purchases in the United States, bringing its total acquisitions to date to approximately 9,000 apartment units.
Brandywine is a 296-unit apartment community built in 1974. With 100% of units containing original interior finishing, Brandywine is primed for a market-supported interior value-add initiative. Hunt Club is a 200-unit apartment community built in 1972 that offers an outstanding opportunity to focus on value-add strategies with potential rent growth. Emma Capital intends to re-brand the Properties.
"We are pleased to add these properties to our portfolio in the Indianapolis market," stated founding Partner and Co-Owner Haya Zilberboim. "The purchase of both properties with a combined 496 units results in Emma Capital further expanding its presence in the Indianapolis market to a total of approximately 1,400 units over five properties. This increased scale will allow Emma Capital to realize efficiencies in the management of its Indianapolis properties. Furthermore, Brandywine and Hunt Club provide the ability to offer a unique variety of floor plans, which will enable Emma Capital to better cater to the individual tastes of potential residents."
"Indianapolis has a diverse and healthy economy in a variety of business sectors including insurance & financial services, healthcare, life sciences, technology and logistics," added Partner and Co-Owner Oz Cohen. "With a skilled workforce, a tax-friendly structure for business, and an excellent quality of life, the city and state offer an extremely attractive environment. With only 3.3% unemployment and 1.9% annual job growth, Indianapolis is well-positioned to continue its trajectory as a city with strong growth fundamentals, and we are extremely happy to be a part of such growth."
"We feel that both Brandywine and Hunt Club are strong performers and are poised to benefit from value-add initiatives such as enhanced exterior and common area amenities, and unit interior upgrades," stated Brian Rakowski, Emma Capital's Indianapolis Asset Manager.
About Emma Capital
Emma Capital was founded in 2012 and specializes in the identification, financing, acquisition and operation of multi-family residential complexes, particularly in the Sun Belt and Midwestern states in the U.S. The typical Emma Capital project involves 100+ class "B" apartment communities with value-add opportunities, delivering strong cash flow and long-term appreciation while preserving capital. To date, Emma Capital's portfolio consists of total asset value of approximately US$1.1 Billion of property and approximately 9,000 units in the Phoenix, Atlanta, Charlotte, Nashville, Orlando, Indianapolis and Raleigh/Durham markets.
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SOURCE Emma Capital