Source: Trade Winds Real Estate / #Apartments #Multifamily
MONTGOMERY, AL - Trade Winds Real Estate has established a growing presence in the Heart of Dixie. The private real estate investment firm has just added The Meadows to its portfolio of Alabama properties. The 194-unit property, located in East Montgomery, joins TimberChase, Corner Stone and Maplewood as the fourth and largest Trade Winds rental property in Alabama.
"Today, The Meadows boasts 99% leased occupancy and 94% physical occupancy," says Peter Spiro, owner of Trade Winds Real Estate. "We anticipate keeping those numbers high while performing all necessary updates to the property. Our business plan is to improve the properties we acquire, and then strategically raise rents to match the value we create."
Built in 1972, The Meadows' 24 buildings occupy 20 acres of land. The majority of units feature a townhouse floor plan with 2 bedrooms and 1. 5 baths – 113 fit this description. In short, The Meadows has ample space for both individuals and families.
Amenities at The Meadows take center stage, and include a pool, playground and community laundry room. Residents can avail themselves of a dog park and small pond, as well as stay in trim shape at the indoor fitness center.
The location of The Meadows offers some distinct advantages. Nearby Maxwell Air Force Base is just one of several well-established local employers. New investments in the area include Skykes and Creek Casino. Competition in the rental market should remain subdued for the foreseeable future, as no new construction is currently ongoing or planned.
"The Meadows is close to everything, which is a huge bonus for both investors and residents," adds Spiro. "Attracting and retaining quality tenants will not be an issue. We already have an outstanding property manager in place to ensure a smooth transition as we turn The Meadows into a top-notch property for the East Montgomery community."