Macon, GA (May 30, 2021)
Vestio Capital, a private equity real estate firm headquartered in Virginia and New Jersey specializing in multifamily apartments and vacation rental investments, has acquired Madison on Mercer, a 133-unit multifamily community in Macon, Georgia, for $6,000,000. This acquisition marks Vestio Capital’s entrance into the Georgia market as part of its ongoing strategy to identify and invest in properties with strong growth potential.
“This was an incredible chance to acquire a 100-plus-unit multifamily community located right next to the Macon Mall,” said Deepak Kaushik, Managing Partner at Vestio Capital. “The property’s proximity to the Macon Mall, Mercer University, and key medical facilities provided a compelling opportunity to invest in a well-positioned residential asset with significant upside potential. This acquisition underscores our commitment to identifying prime locations that meet the needs of both our tenants and our investors.”
The property includes 55 units that were unoccupied at the time of purchase. Vestio Capital plans to infuse substantial capital to bring these units online within 18 months, upgrading them to market standards to enhance rental income and overall net operating income (NOI). Additional improvements to the property include roof replacements, road construction, new landscaping, updated woodwork, and the installation of retaining walls. These upgrades aim to create a community that tenants are proud to call home, offering families a safe and welcoming environment.
Vestio Capital has partnered with Strategic Management Partners, a property management company with deep ties to the Macon area, to manage the day-to-day operations of Madison on Mercer. Their local expertise will ensure effective management and high-quality living experiences for tenants. Additionally, the firm has engaged On Point Renovations LLC to oversee the capital expenditure projects necessary to rehabilitate and modernize the 55 offline units.
“We are committed to this project and to bringing our expertise in real estate management to Macon,” said Arun Goel, Managing Partner at Vestio Capital. “By providing affordable housing options, optimizing operational efficiencies, and executing our capital improvement plans, we aim to create a thriving community for our residents while delivering strong returns for our investors.”
This acquisition reflects Vestio Capital’s broader strategy to identify value-add opportunities in emerging markets and to build high-quality, sustainable communities for renters. With a combination of strategic partnerships, operational expertise, and a focus on tenant satisfaction, the firm looks forward to contributing to the growth and prosperity of the Macon community.
About Vestio Capital
Vestio Capital is a private equity real estate firm headquartered in Virginia and New Jersey. Through its vertically integrated operating strategy, Vestio Capital targets opportunistic vacation rental and multifamily investments in key growth markets across the United States. The firm’s focus on increasing net operating income and maximizing investor returns underpins its success. Additional information about Vestio Capital’s team and investment strategy is available at VestioCapital.com.