Projects

Description - In June of 2022 AGB Real Estate, LLC acquired the 108-room Rodeway Inn located in Hermitage, TN just outside of Nashville, TN for $6,500,000 ($55k/unit).
Prior to the acquisition, AGB Real Estate had expeditiously taken the property through the required Specific Plan (SP) rezoning process. Within 3 weeks of closing on the property, the Sponsors embarked on the renovation which included a full-gut renovation of every unit and common areas, added fire sprinkler & suppression throughout, as well as a new gym and BBQ/amenities deck.
Renovation Duration: 10 months

In August of 2023, AGB Real Estate acquired the 126-room America’s Best Value in Nashville, TN for $10,000,000 ($79k/unit). With the Multifamily Use permitted by right, Sponsorship started demolition and renovation work within 24 hours of closing on the property.
AGB Real Estate plans to completely renovate all the units with new kitchens, bathrooms, and add fire suppression systems throughout the asset - including 2 new fire hydrants. They will also add 5 units to bring the total room count to 131.
Duration: Sponsorship plans to complete all demolition, remodeling, and addition of new units in ~10 months

Between 2017 and 2020, Sponsorship acquired 10+ vacant properties on scattered sites throughout the Nation’s Capital that were converted to multifamily housing for families and individuals who held Housing Choice Vouchers.
The properties were in significant disrepair and all needed extensive renovation. The renovation included underpinning work to improve ceiling heights in lower levels and adding livable floor area as allowed by zoning codes.
All units are fully leased and the portfolio will be held for cash flow.
Duration: Frmo purchase to lease-up, the process ranged from 12 to 18 months.