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Revenue and Collections Update

Sunbelt Fund I Updates > Revenue and Collections Update

Stable Revenue Growth Despite the Pandemic

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Revenues at our Sunbelt properties have continued to grow despite the COVID-19 pandemic. We attribute this continued growth to:
  1. Our strategy of investing away from the coast in cities with low hospitality and food and beverage employment;
  2. Generous federal government stimulus and unemployment packages relative to the Southeastern cost of living and our affordable average rents;
  3. Southeastern states relatively strong economies prior to the crisis, and comparatively brief and limited lockdowns;
  4. Lease-up to near stabilized levels at value-add properties such as College Park and Amelia West;
  5. Occupancy to near 100% leased at stabilized properties like Heather Ridge and Sycamore Apartments;
  6. Higher market rents on freshly renovated units at Heather Ridge and Huntingdon Apartments; and
  7. Organic rent increases as leases roll off at Holiday Cove, College Park, and Amelia Apartments.

Consistent Collection Through the Pandemic Thus Far

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Collections and the timing of payments have improved (after a one-time brief delay in early April) through the pandemic thus far.  We could still see a decline in resident payments as residents run out of stimulus money this Fall, but we continue to work with residents to make sure they know how to access government resources and to prioritize rent payment.

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The information contained on the Ballastrock.com web site has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular user’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities.  An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest.  All private placements of securities and other broker dealer activities are currently offered through a partnership with Independent Brokerage Solutions LLC MEMBER: FINRA / SIPC (“IndeBrokers”), which is located at 485 Madison Avenue 15th Floor New York, NY 10022. (212) 751-4424. Ballast Rock Holdings LLC and its affiliates are independent and unaffiliated with IndeBrokers. Any securities transactions or related activities offered by Ballast Rock associated persons are conducted in their capacities as registered representatives of IndeBrokers. To check the background of IndeBrokers and its representatives, visit FINRA’s BrokerCheck. Please see our Form CRS.
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  • Home
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  • Updates
    • Sunbelt Fund II
    • Sunbelt Fund I
  • Leadership
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