Nine Two Six West was acquired on November 29, 2018. The property is located in Augusta, GA. The asset was purchased in an off-market deal from the original developer. McDowell was left in an ideal investment position, with an undercapitalized asset with upside to be made from renovations to the 100% classic units and improvements to management. The investment strategy for this property is to add value through modernizing the interiors and enhancing the amenities and common areas.
The 280-unit garden style complex was constructed in 1987 and consists of one- and two-bedroom apartments. The property is located in Augusta, the second most populous city in Georgia and is conveniently located near I-20 and Bobby Jones Expressway. Residents enjoy on-site amenities such as a resort-style pool, sand volleyball court, a fitness center, dog park, and outdoor kitchen.
Augusta has benefited from having an economy reliant upon a mix of revenue sources including military, education, healthcare, and tourism, thus offering lots of employment options and stability to the region overall. The city is also home to one of the largest Golf clubs as well as the Masters Golf Tournament, which generate substantial revenue and occupational opportunities for the city and surrounding areas. The property is nearby the Augusta National Golf Club, Doctor’s Hospital of Augusta, the US Army National Guard, a Sam’s Club, the Augusta Mall and West Lake Country Club. Prominent employers in the area include U.S. Army Cyber Center of Excellence & Ft. Gordon, Augusta University, NSA Georgia, Augusta University Hospitals, Richmond County School System, EXGO Textron, Graphic Packaging, Ferrara USA, and Augusta-Richmond County.
- Outdoor Kitchen
- Sand Volleyball Court
- Dog Park
- Resort-style Swimming Pool
- Fitness Center