Johnson City, Tenn. – Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announces the acquisition of Sterling Hills Apartment Homes, a 216-unit multifamily community in Johnson City, Tennessee. Monument Capital Management acquired the property from Sterling Hills Apartments, LLC and will implement a $2.3 million capital improvement project throughout the property.

Located at 1 Milligan Lane, Sterling Hills Apartment Homes is the firm’s first property in the Tennessee market and will be part of Monument Opportunity Fund IV, launched earlier this year. The firm owns a total of 25 properties totaling over 5,300 units throughout the Southeast, Midwest and Texas, and is actively engaged in pursuing additional opportunities. 

Senior Associate Brad Boston of Cushman & Wakefield represented the seller. Monument Capital Management represented itself in the transaction. 

“The Southeast region continues to demonstrate strong job and population growth conducive to demand for workforce housing with upside potential,” said Stuart Zook, Principal of Monument Capital Management. “The property’s location in the Tri-Cities region of Johnson City, Kingsport and Bristol made it a strategic fit in our latest Fund, with Johnson City exemplifying strong growth in the future.”

Monument Capital Management plans to carry out a number of upgrades throughout the property’s interiors and exteriors including new flooring, appliances, cabinets, countertops, fixtures, and washer/dryer connections. New amenities include a clubhouse, fitness center, gazebo, sport court and lush landscaping.

Built in 1980, Sterling Hills Apartment Homes offers one-, two-, and three-bedroom units averaging 876 square feet. Interiors feature a loft layout, linen closets, dishwasher and washer/dryer. Community amenities include a fitness center, basketball court, swimming pool, courtyard, grill and picnic area.

Situated about 10 minutes away from downtown Johnson City, Sterling Hills Apartment Homes is found near major employers and educational institutions. Supporting almost 1,000 jobs and over 15,000 students, East Tennessee State University is 10 minutes away from the asset, with Mountain State Health and Citi Group also nearby.

CHICAGO - Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announces the acquisition of Townhomes at Highcrest, a 176-unit apartment community in Woodbridge, Illinois. Monument Capital Management acquired the property from Highcrest Apartments, LLC and plans to invest approximately $1.5 million in capital improvements throughout the property.

Located at 3514 West 83 Street, Townhomes at Highcrest is Monument Capital Management’s third property in the Chicago area and will be a part of Monument Opportunity Fund IV, launched earlier this year. The firm owns a total of 30 properties totaling over 6,000 units throughout the Southeast, Midwest, Texas and Arizona, and is actively engaged in pursuing additional opportunities.

“The Chicagoland market has demonstrated compelling fundamentals for multifamily investment, including a resilient economy and an uptick in employment growth,” said Stuart Zook, Principal of Monument Capital Management. “With a low unemployment rate and demand outpacing supply, the acquisition marks an important step toward adding sound investments to our latest Fund.”

Monument Capital Management plans to carry out a number of upgrades throughout the property’s interiors and exteriors including new flooring in each unit, modern appliances, lush landscaping and the addition of a state-of-the-art fitness center.

Built in 1968, Townhomes at Highcrest offers one-, two- and three-bedroom units featuring hardwood floors, private patios, private entryway, dishwasher and stainless steel appliances. Community amenities include on-site maintenance, swimming pool and laundry facilities.

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About Monument Capital Management

Monument Capital Management (MCM), an A-Rod CORP company, is one of the country’s premier fully integrated real estate investment firms. Specifically targeting markets with a strong demand for workforce housing, MCM has acquired $700 million of real estate assets across 13 states through opportunity funds and joint ventures. The organization strategically identifies assets in markets with attractive demographics at a deal size where competition is limited, and its seasoned team can immediately leverage its operational expertise.  The firm has excelled at its mission of investing in real estate assets where it can add value and deliver superior, risk adjusted returns, while protecting capital and mitigating downside risks.

MIAMI - Monument Capital Management (MCM), an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announces that it has closed its first multifamily fund, known as Fund I, while simultaneously launching its fourth fund. The firm’s initial fund managed $21 million in equity, and the newly-launched Fund IV is targeting $50 million.

MCM closed Fund I with the disposition of Hampton Forrest Apartments in Greenville, South Carolina for $8.9 million. With over $20 million from high net worth investors as a base, Fund I eventually constituted a total of over 2,700 workforce housing units in six states, focused primarily on Texas, Maryland, and the Southeast U.S.

Fund I realized a net IRR of 30 percent to its investors after divesting a total of 10 assets valued at $123 million.

The firm also announces the immediate launch of Fund IV, a value-add workforce housing fund with a fundraising target of $50 million and equally compelling IRR expectations. MCM will focus on expanding their presence within Sunbelt markets, as well as select areas of the U.S. Midwest, where it already has a presence.

“We anticipate continue strong demand for workforce housing within key markets,” said Stuart Zook, Principal of Monument Capital Management. “This sector of the housing market is appealing to a broad range of individuals, from millennials to seniors, with many areas still undersupplied.”

Having acquired $700 million of real estate assets across 13 states through opportunity funds and joint ventures, MCM has strategically identified assets in markets with attractive demographics through a nimble approach that focuses chiefly on secondary and tertiary markets that feature excellent job growth, among other factors, and consequently the need for workforce housing.

Properties acquired and disposed in Fund I include: Forrest Village in Suitland, MD; Country Club in Charlotte, NC; Milbrook Pointe in Augusta, GA; Casa de Luna in Raleigh, NC and La Esencia in Houston, TX, among many others.

“Our successful approach to investing manifested itself with the fruitful results of Fund I, which we expect to build off of as we commence our portfolio growth for Fund IV,” concludes Zook.

For more information about Monument Capital Management, please visit http://mcmgmtllc.com.

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About Monument Capital Management

Monument Capital Management (MCM), an A-Rod CORP company, is one of the country’s premier fully integrated real estate investment firms. Specifically targeting markets with a strong demand for workforce housing, MCM has acquired $700 million of real estate assets across 13 states through opportunity funds and joint ventures. The organization strategically identifies assets in markets with attractive demographics at a deal size where competition is limited, and its seasoned team can immediately leverage its operational expertise.  The firm has excelled at its mission of investing in real estate assets where it can add value and deliver superior, risk adjusted returns, while protecting capital and mitigating downside risks.

MIAMI  –  Monument Capital Management (MCM), an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, has named Erin D. Knight Executive Vice President. Knight will be based in Monument’s corporate offices in Miami, Florida.

Bringing more than 20 years of diversified experience in finance and banking to her new role, Knight will lead investor relations for Monument Capital Management’s successful current and future real estate investment funds. She will also oversee the firm’s overall growth strategy and community relations.

“We are delighted to bring Erin’s leadership to the team here at Monument,” said Stuart Zook, Principal of Monument Capital Management. “We believe her expertise and breadth of financial experience will greatly enhance our existing services, as we continue to advance in our efforts to expand Monument.”

Prior to joining Monument Capital Management, Knight served as Chief Operating Officer of a high-end women’s fashion house. Previously, she served as Executive Vice President – Market President Miami-Dade for Stonegate Bank, now known as Home BancShares, where she spearheaded the opening of two de novo offices in Miami, expanded their Miami loan and deposit portfolio, and was a part of the bank’s senior management team. Previous to that, Knight served as Senior Vice President-Private Banking Sales Manager for Regions Bank.  

“I am honored to join Monument Capital Management at such a pivotal time for the organization and I’m grateful to be given this opportunity,” added Knight. “The firm is a respected national leader and I look forward to working closely with the team.”

Active in the community, Knight serves as Board Member of the Baptist Health Foundation, the March of Dimes, the Junior League of Miami Foundation, and is Founder of LeanIn Miami, among other organizations.  She has garnered accolades such as the South Florida Business Journal’s “25 Most Influential Business Women,” South Florida Luxury Guide’s “Woman of Style and Substance,” Miami Today’s “Achiever,” The Miami Herald’s “20 Under 40,” and South Florida Business and Wealth’s “Up and Comer Award.”

Knight earned her Bachelor of Arts in Political Science with a minor in Business from Florida State University and is a Certified Financial Planner™.

For more information about Monument Capital Management, please visit http://mcmgmtllc.com.

CHICAGO (July 30, 2018) – Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, has announced the acquisition of The Residences at 1450 apartment community in Mount Prospect, Illinois, the firm’s second asset in the state.

Located at 1450 Busse Road, the property is comprised of 222 garden-style units spanning across nine two-story buildings featuring one- and two-bedroom garden-style residences with private entrances and patios in select units.

“We are very pleased to expand Monument’s footprint with the acquisition of The Residences at 1450, the second asset that we own and operate in Illinois, as we seek to reinvest in the neighborhood successfully as we did with The Element, our first property in this market,” said Stuart Zook, Principal of Monument Capital Management. “This acquisition aligns with our growth strategy and further strengthens our ownership presence in the Chicagoland market and we look forward to continuing to provide our residents with our value-add program.”

Monument Capital Management plans to continue to implement its value-add program and upgrade the unit interiors.

The apartment community’s amenities include a clubhouse, pool, grill area, playground, dog park, volleyball court, state-of-the-art fitness center, business center, laundry facilities, onsite storage options and lushly landscaped grounds.

Monument Capital Management’s additional asset in Illinois includes The Element in Mount Prospect, located directly across the street from The Residences at 1450.

For more information about Monument Capital Management, please visit http://mcmgmtllc.com.