-- XSITE Capital Investment LLC has successfully closed on Grove Parkview, a $49.1 million multifamily property that will generate significant passive income for hundreds of busy professionals participating in the investment.
The 268-unit property in Gwinnett County, one of Atlanta's strongest submarkets, is projected to deliver 15.5-18% annual returns and provide substantial tax advantages, including 27% depreciation benefits in the first year alone.
The institutional-grade asset, maintaining a 95%+ occupancy rate, represents XSITE's continued strategy of acquiring value-add multifamily assets in growth markets with strong fundamentals and expands their portfolio to $217 million and 1,106 doors under management.
"Grove Parkview aligns perfectly with our acquisition criteria," said Tenny Tolofari, Cofounder/Chief Growth Officer at XSITE Capital. "The property's location in Gwinnett County, with its strong school district and economic indicators, positions it well for both stable cash flow and appreciation potential."
What sets this acquisition apart is XSITE's unique capital-raising approach. The company raised the equity from hundreds of individual investors, primarily busy professionals such as doctors, engineers, CRNAs and other 9 to 5 professionals seeking passive real estate exposure.
"The multifamily market continues to demonstrate resilience," said Dr. Julius Oni, CEO/Cofounder of XSITE Capital. "Grove Parkview represents an institutional-quality asset that's now accessible to individual investors who previously had few opportunities to participate in deals of this caliber."
Founded by three first-generation immigrants with backgrounds in medicine and technology, XSITE Capital’s distinctive approach involves creating streamlined systems that allow busy professionals to invest in institutional-grade multifamily properties.
"We've essentially created a bridge between individual investors and institutional-quality real estate," added Leslie Awasom, Cofounder/Chief Operating Officer. "Grove Parkview continues this tradition with projected returns of 15.5-18% annually for our investors."
For more information about Grove Parkview, visit https://www.xsitecapital.com/grove?utm_source=Closing+PR&utm_medium=Press+Release&utm_campaign=Grove_Parkview
Grove Parkview is open to accredited investors only
About XSITE Capital
XSITE Capital Investment LLC is a multifamily real estate investment firm focused on helping busy professionals build wealth through institutional-grade real estate. With $7.8 million in returns delivered to investors, XSITE Capital is committed to democratizing access to commercial real estate investing and creating generational wealth opportunities for all.
Contact Info:
Name: Alicia Galloway
Email: Send Email
Organization: XSITE Capital Investment
Website: https://www.xsitecapital.com/?utm_source=Closing+PR&utm_medium=Press+Release&utm_campaign=Grove_Parkview
Release ID: 89154828
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