Varden Capital Properties (VCP) was founded in 2011 with the objective of acquiring undervalued real estate, repositioning the asset and creating positive returns for its investors. VCP prides itself on its unique ability to better manage and renovate at lower costs while minimizing risk, providing full transparency and maintaining strategic relationships. Headquartered in Atlanta, GA, its founding managing partner is Trace McCreary, an investment expert and attorney with more than 20 years of experience. VCP acquired its first property, Southpoint Place Apartments, a 108 unit complex in Jacksonville, FL, in December 2011. To date, we have purchased over 70 apartment communities with over 20,000 units in the Southeast. We currently own 34 properties totaling 7,684 units, including LIHTC, Senior and Conventional properties in Georgia, North Carolina, South Carolina, Texas, Tennessee, Alabama and Mississippi. To date we have sold over 50 properties and more than 10,000 units.
Our variety of investment vehicles and strategies caters to a diverse group of capital partners and institutional investors, and we leverage extensive industry relationships to acquire real-time market intelligence. Our goal is to maximize investment returns by ensuring an appropriate capitalization structure, while focusing on optimal property performance.
We fully understand the process of identifying undervalued assets with strong potential to generate attractive risk-adjusted returns. This is what gives us an investment advantage and proprietary insight to identify markets with the best potential to outperform.
VCP's property management arm, Hammond Residential Group (HRG) which is owned by VCP Hammond, LLC and headquartered in Atlanta, currently manages more than 8,000 units, both affiliated with VCP and for third parties. The management team of HRG encompasses over three decades of top notch real estate management experience specializing in multifamily assets, including conventional, new development, bond, and Low Income Housing Tax Credit financed projects. For the past 4 years, HRG has ranked in the top 20 Apartment Property Management Companies by The Atlanta Business Chronicle and focuses intently on fundamental operational practices that maximize the market position and profitability of each asset. To learn more about HRG please visit www.HammondResidentialGroup.com.
VCP's construction unit provides the highest quality renovation within the approved scope and budget. We understand our properties are both residences as well as assets. We approach every renovation with this in mind– to minimize resident impact and unit downtime while maximizing ROI and marketability. Our extensive experience on occupied communities allows us to achieve this on every project, through strict process and procurement control and high-level, on-site project management. From interior and exterior renovation to the site and amenity improvements, we are dedicated to providing dependable, experienced construction solutions, with expert management and unsurpassed quality.