Vive Funds Acquires $78.3M Atlanta-Based Multifamily Property

USA - English

• USA - English

ATLANTA, Aug. 27, 2021 /PRNewswire-PRWeb/ -- Vive Funds, led by Veena Jetti, has successfully acquired The Estates at Crossroads on June 30, 2021. The property is a high-performing Class-B 344-unit multifamily property in the metropolis of the strong performing Atlanta market. The property was bought in partnership with Blue Lake Capital, LLC, led by CEO Ellie Perlman. This powerhouse duo combined forces to successfully spearhead this acquisition via REV Fund - a joint-led $100M multifamily value-add fund established in May 2021.

The property, located at 2620 N Berkeley Lake Road NW, Duluth, GA 30096, is a 2002 institutional-quality asset that enjoys an exceptional location and a promising interior renovation opportunity. In addition, the property also offers a robust amenity package including a resort-style swimming pool, large sundeck with a grilling area, fitness center, dog park, tennis courts, playgrounds, sprawling nature trails, and detached garages.

The property will be enhanced via a value-add strategy, which entails installing modern apartment unit finishes such as stainless-steel appliances, vinyl plank flooring, new lighting and hardware, new backsplashes, and other features to further drive the desirable tenant base currently in place. Coupled with additional income-generating improvements, Vive Funds is confident in delivering a strongly performing and profitable asset to investors.

This most recent acquisition marks further continued growth for Veena Jetti's portfolio and takes her portfolio to just over $500MM in AUM throughout the Texas, Florida, and Georgia markets. Vive Funds is proud to report strong performance of its portfolio and never having missed a preferred payment amid COVID. By implementing expert hands-on strategies to lower costs and maximize collections, the company has recently pushed rents up by 23.65% on some units, well above proforma projections.

A defining factor in this strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Vive Funds is able to lead commercial investments with the full capabilities of today's technology.

The deal included several strong working partnerships, including the lending team, led by Melissa Marcolini Quinn, who is assisted by Lee Weaver, and Rob Rothaug, who all recently joined JLL. Large private funds and family offices are bullish on the sponsors and invested significantly into the deal. The SEC attorney, Nic McGrue of Polymath Legal, also played a crucial role in the deal structure. Also involved in the deal was Jeannette Robinson, Director of Investor Relations for Blue Lake Capital. "We are grateful for our incredible team in this deal," Jetti said. "This joint venture wouldn't have been possible without them."

Vive Funds
Vive Funds was launched to fulfill its mission of carefully curating high-quality real estate investments to suit our core investor profile. Its innovative strategy and detailed processes drive its core value of investor-based projects. Vive has developed a rich network of global business partners to make early and transforming investments in assets that have the potential to do great things. Its dedicated team is made up of seasoned industry leaders who are looking to partner with hard-working, visionary investors.

Vive Funds' Founder
Veena Jetti is the founding partner of Vive Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors. Veena brings a dynamic perspective to targeting, acquiring, managing, and operating assets using best practices combined with cutting-edge technologies. Her professional expertise includes driving corporate strategy and business development opportunities.

After graduating from the University of Illinois at Chicago with a degree in Finance at 20 years old, Veena pursued her passion for real estate. Veena has over a decade of real estate experience and over $1B+ in real estate assets over her career in both the startup world as well as the corporate world. Because of her diverse background, she is often a panelist and speaker for various podcasts, global conferences, and radio shows.

Media Contact

Veena Jetti, Vive Funds, +1 5632608575, [email protected]

SOURCE Vive Funds