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 disposition of Brynn Marr Village, a 196-unit multifamily community located at 301 Village Drive in Jacksonville, North Carolina.
The property was sold on February 10, 2025, for $21.25 million, with Cushman & Wakefield representing Monument.
Monument Real Estate Services, the sister company of Monument Capital Management, managed the asset throughout the hold period.
Originally acquired in October 2019 for $14 million as part of Monument Opportunity Fund IV, Brynn Marr Village benefited from a strategic value-add program including capital and operational improvements over the hold period.
Located just 10 minutes from Camp LeJeune, the largest Marine Corps base on the East Coast, Brynn Marr Village offers one-, two-, and three-bedroom apartment homes ranging from 650 and 990 square feet. Monument’s renovations included interior unit upgrades, exterior improvements, and amenity enhancements such as an expanded fitness center and upgraded business center.
“This sale represents another strong outcome for Monument’s investors,” said Erin Knight, President of Monument Capital Management. “We remain confident in the long-term potential of coastal North Carolina and continue to seek out similar workforce housing opportunities in high-growth markets across the region.”
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 more than $1 billion of real estate assets across 16 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.