I am making it my personal mission that all those that need our help to have safe, affordable and family oriented housing
Atlanta, Georgia (PRWEB) May 12, 2012
During an April 30th board meeting of Claxton Group Inc, the company’s CEO ,Eric Claxton, announced that the company had completed the acquisition of one of the largest apartment complexes in the state of Kentucky.
Weighing in at just under four hundred active multifamily units – the company is planning to turn this large property over to its non-profit housing arm. During the acquisition announcement, Claxton Group’s CEO, Mr. Eric Claxton, Stated : “With renovations ongoing, the company plans to restore this grey lady of a property, into the “belle of the ball” that she once was when she debuted in the Louisville Kentucky market in the early 1970’s. We intend to make the property a real show piece for the non-profit housing community”.
On top of the six-figure sales price of the asset, the company plans several capital expenditure projects, to include a new children’s playground, and the rehabilitation and reopening of the community’s shuttered swimming facilities. Also to be included in the rehabilitation program for the asset is the replacement of the chilling and boiler plants on the property with new, individual heating & air systems for each unit. This will cut the cost of operation for the complex dramatically. This change over to more environmentally and economically friendly ways of operating this property will bode well with the company’s investors and the bond buyers that will be purchasing the 501 (3) bonds that were issued to complete the transaction.
The company has recently begun to repair and expand lines of communication with the charitable organizations that serve the low-to-moderate income families throughout Kentucky. The company’s young CEO has this to say to those organizations. “I know that traditionally some non-profits were of the opinion that most for-profit companies had no business owning non-profit assets. I want everyone to understand something- Our Company is family owned and operated and I do not have to do things to keep a stock price high. I not only do things in the best interest of our investors, but I do what is right from a human & moral standpoint. I am making it my personal mission that all those that need our help to have safe, affordable and family oriented housing- they are going to get that help! My staff will work tirelessly with all charitable organizations to accommodate their needs and address their concerns. We are of like mind and like heart when it comes to making sure that our tenants are treated as members of our own family- no matter how much or how little they earn. “
This asset is not the company’s only new purchase in the Louisville Kentucky market- the company also completed the acquisition of a seventy (70) unit complex. It is expected that this smaller property will remain in the company’s for-profit operations. The company continues to target properties throughout Kentucky and the Southeast for its non-profit and for-profit divisions. But the southeast isn’t the only area in which Mr. Claxton has made deals recently. He continues to rake up the frequent flier miles jetting across the country, to close deals as far West as Oregon and California, and as far North as Pennsylvania. The young Claxton proves that he will go where a deal can be found that will turn out profits for his investors or a property that will fit within his non-profit’s mission statement.
For those of you whom may not be familiar with the Claxton Group or its twenty-five (25) year old CEO; The Company is a national real estate development and investment company headquartered in Atlanta Georgia. The company’s core business is that of owning interest in several thousand multifamily apartment units spread across the country, as well as, having other investments in shopping, hospitality, green and medical properties in the South-eastern United States. The company most recently has received national press coverage from its partnership to develop 50 urgent care centers in the southeast. In more infamous press coverage, the company’s 25 year old CEO (Mr. Eric C. Claxton) whom at the start of his career was known as the “Real estate whizz kid” by industry insiders has recently received notoriety inside the industry for turning out record profits for the family-owned company (and its investors) He is counted among Atlanta’s most influential businessmen of his generation within his industry.