Property Acquisitions

Pedcor Homes Acquired Apartment Communities.

We are excited to welcome an addition to the Pedcor Homes portfolio! Walden Landing Apartment Homes in Hampton, GA!  Read more about the acquisition activity and Pedcor Homes acquisitions to-date below.

Walden Landing Apartment Homes

Located just south of Atlanta in Hampton, GA, Walden Landing feaures 240 apartment homes. Residents can select a one, two, or three-bedroom floorplan. Amenities include a swimming pool with sun deck (pictured above), fitness center; apartments featuring 9’ ceilings with crown molding or even vaulted ceilings; apartments with lofts; optional garages; and more. All in this impressive, gated community. The acquisition process often involves exterior and interior updates including all new kitchens, baths and fixtures in the apartments.  Walden Landing is a great addition to the Pedcor Homes portfolio of communities!  

Pedcor Homes Property Acquisition Profile

Pedcor Homes Acquired Apartment Communities.
The first Pedcor Homes acquisition, Palm Villas, in Fort Myers, FL

Unlike ground-up construction, property acquisition involves purchasing an existing apartment community. The acquisition team is under the leadership of Rick McCool, EVP and COO of Pedcor Homes. The acquisition team works with brokers to identify and tour available properties in thriving apartment markets.  Selected properties then go through an underwriting process to determine if they are financially feasible.  If so, a Letter of Intent is submitted (the offer).  Once accepted, a Purchase/Sell Agreement is drafted and the Due Diligence process begins, during which time the acquisition team assembles and completes a resident file audit; physically inspect every apartment and conducts a thorough inspection of all building exteriors and common areas.  Desired upgrades and renovations are also identified during this process.

Properties are acquired through Pedcor’s affiliated companies, including Pedcor Housing Corporation (PHC) and Village Capital Corporation (VCC).  In addition, the acquisition team assists Affordable Housing Partners (AHP) in finding properties to acquire and rehab in order to fulfill its mission of preserving and providing affordable housing.  The ability to complete the acquisition and funding completely in-house makes Pedcor a unique and strong player in apartment acquisitions.

Acquisition Portfolio

Pedcor has acquired 17 properties since the first community acquisition in 2018. The acquisitions portfolio currently consists of:

  1. Palm Villas, Fort Myers, FL in July 2018
  2. Woodside Villas, Fort Myers, FL in July 2018
  3. Trinity Apartment Homes, Fort Myers, FL in December 2018
  4. Riverwalk Apartment Homes, Fort Myers, FL February 2019
  5. Aaron Lake Apartments, Bradenton, FL February 2019
  6. The Residences at Page Park, Fort Myers, FL in July 2019
  7. Sand Cove Apartments, St. Pete Beach, FL in December 2019
  8. Mill Run Apartments, Columbia, SC in February 2020
  9. Naples 701, Naples, FL in October 2020
  10. The Landings Apartment Homes, Gastonia, NC in February 2021
  11. The Boulevard Apartment Homes, Bradenton, FL in March 2021
  12. The Timbers Apartment Homes, Lilburn, GA in March 2021
  13. The Bluffs Apartment Homes, Spartanburg, SC in May 2021
  14. Stone Haven Pointe Apartment Homes, Rock Hill, SC in June 2021
  15. Woodwinds Apartment Homes, Greenville, SC in July 2021
  16. Bluff Ridge Apartment Homes, Jacksonville, NC in August 2021
  17. Walden Landing Apartment Homes, Hampton, GA in September 2021

Pedcor Homes Corporation is a Pedcor Companies property management division that owns, manages, develops and acquires apartment communities. Through new construction and acquisitions, Pedcor is continually growing and cultivating thriving communities across the nation.

Pedcor Companies is a full-service development, construction, property management, banking and finance team committed to creating stable, inclusive, and quality rental housing across the nation. We are cultivating thriving communities. For more information, please visit our website.

Pedcor supports the federal fair housing act and all state and local laws prohibiting discrimination in housing with regard to race, color, religion, national origin, sex, familial status, handicap, creed, sexual orientation, gender identity, and lesbian, gay, bisexual, transgendered (LGBT+) individuals. Pedcor is an equal opportunity provider and employer.