DECEMBER 02, 2021
Hinesville, Georgia – Jeronimo Hirschfeld, President, and CEO of One Real Estate Investment (OREI), announced the purchase of a 240-unit apartment community in Hinesville, Georgia.
Liberty Club Apartments was recently built in 2020 and is located at 915 General Stewart Way, Hinesville, Georgia. The asset is located less than 3 miles from Fort Stewart Army Airfield, the largest United States Army installation by area east of the Mississippi River. The property benefits from convenient access to US-84, the primary retail thorough fare in Hinesville. Delivered in January 2020, Liberty Club is the newest garden style multifamily development in the market. Over the past 3 years, market fundamentals have exhibited strong growth patterns with 10% market occupancy growth from Q1 2018 to Q3 2021. With market occupancy above 95%, Liberty Club will benefit from its contemporary design and numerous amenities, as demand outpaces supply. OREI will complete common area enhancements to the clubhouse, pool area, BBQ area, dog park, and overall landscaping improvements. In addition to exterior improvements, OREI will implement an interior renovation program including upgrades to bathrooms, LED light fixtures, kitchen upgrades and more.
Liberty Club was sourced through an off market opportunity with the original developer. The acquisition of Liberty Club represents one of the newest vintage assets in OREI’s portfolio.
“Military driven markets have historically performed very well for us” stated Hirschfeld. “OREI has been very active in Fayetteville, NC which we believe demonstrates comparable market trends to Hinesville.
As this positive trend continues, we are confident that Liberty Club will outperform the market and drive rental rates in the years to come.” In addition to acquiring Liberty Club, One Real Estate Investments portfolio also includes 3 multifamily communities located in Atlanta, bringing total units under management in Georgia to over 1,000.