519 Units Acquisition by Miami Real Estate SAR Apartment Capital LLC

The founders of SAR Apartment Capital, Sam Jazayri, Abiel Ballesteros and Rene Sanchez, sold 519 units in Decatur, GA for $29,900,000. The firm invested $10,000,000 to renovate the interior and exterior of the property, as the property was originally purchased distressed with an 80% vacancy for $3,100,000 in 2013. SAR Apartment Capital LLC is a national multifamily investment firm with over $40,000,000 of assets under management.
In August 2020, the median list price of homes in Decatur, GA was $269K, trending up 8.5%year-over-year. The median listing price per square foot was $171. The median sale price was $248K. Decatur, GA is a seller's market in August 2020, which means that there are more people looking to buy than there are homes available. 

On average, homes in Decatur, GA sell after 56 days on the market. The trend for median days on market in Decatur, GA has gone down since last month, and slightly up since last year.

The City of Decatur has been very successful at economic development over the past decade. The importance of municipally supported economic development is to maintain an employment base and minimize poverty so that local revenues can adequately fund services and schools. The City Commission and the Downtown Development Authority, working with long-standing goals, a widely supported town center plan, and a growing market demand, has created a vibrant downtown shopping and entertainment district where ten years ago there was a plethora of vacancies. Successful commercial revitalization has also occurred in Oakhurst Village and the College Avenue Corridor.

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