Abbey Lakes Apartments: A Case Study in Multifamily Real Estate Investing


Abbey Lakes Apartments in Thomasville, Georgia, is a powerful example of how strategic real estate investing can yield impressive returns for investors. This 152-unit property was purchased for $8.6 million and is strategically located between Thomasville, GA, and Tallahassee, FL — a growing area with strong rental demand and economic development.


Just 46 months after the acquisition, Abbey Lakes was sold for $14.8 million, delivering a remarkable 106.3% total distribution to investors. That’s an average annual total return of over 17%, showcasing the true potential of a well-executed value-add investment strategy.


Why Abbey Lakes Was Compelling

Several factors made Abbey Lakes an attractive opportunity:

  • Underperformance: The property was not operating at its full potential, presenting room for operational improvements and efficiencies.
  • Economies of Scale: The large unit count provided cost benefits in management, renovations, and operations.
  • Prime Location: A Class B-/C+ asset within walking distance to retail, dining, and a short commute to Tallahassee, FL.
  • Strong Historical Performance: High occupancy rates and consistent collections supported the investment thesis.


The Investment Strategy

The approach taken with Abbey Lakes was focused on maximizing rent potential and increasing property value through:

  • Capital Improvements: In years 1 and 2, a targeted renovation plan improved the interiors and common areas.
  • Rent Optimization: After improvements, rents were increased to match proven market levels, significantly boosting income.
  • Appeal Enhancement: Strategic updates elevated the property's marketability, attracting more substantial tenants and increasing retention.


The Results

This investment wasn't just profitable—it was a textbook example of how real estate syndication and value-add strategies work. With a 106.3% total return in under four years, Abbey Lakes exceeded expectations and reinforced Cordell Capital’s approach to selecting and managing multifamily investments.


Final Thoughts

Abbey Lakes Apartments demonstrates what’s possible when the right property meets a thoughtful strategy. It highlights the kind of opportunities we constantly seek—assets in growing markets with untapped potential for income and appreciation.



We look forward to including more investors in our next success story.

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