MIAMI, FL - Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, has announced the closing of Monument Opportunity Fund II with the disposition of Reserve at Cavalier, a 150-unit community in Greenville, South Carolina, for $14.3 million.
The final asset of the fund to be disposed, Monument Opportunity Fund II acquired over 3,100 units among 15 properties totaling $151 million.
“The closing of our second fund marks an important milestone in Monument’s growth as a multifamily investor in some of the nation’s most competitive markets,” said Stuart Zook, Principal and CIO of Monument Capital Management. “Our focus on workforce housing in key locations, as well as expanding our reach into new markets, highlights a forward-thinking approach based off proven success that translates into exceptional returns for investors, noted in an IRR in the high thirties for this particular asset.”
Building on the success of Monument Multifamily Investors Fund, Monument Opportunity Fund included the strategic acquisitions of workforce housing communities in various markets including North Carolina, South Carolina, Maryland, Ohio, Virginia, Texas and Georgia. In addition, MCM entered new markets to include the Midwest and Southwest regions of the U.S., further diversifying its portfolio and capitalizing on new opportunities.
Monument continues investing in markets with high job and population growth throughout the U.S., most notably through two additional funds, Monument Opportunity Fund III and IV.
For more information, please visit www.mcmgmtllc.com