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The Gables of Cornerstone
The Gables of Cornerstone provides a unique opportunity to acquire a high-quality asset in the growing market of Lynchburg, Virginia
The Gables of Cornerstone
Property Details
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The Gables of Cornerstone is a well-maintained, four-story multifamily property in Lynchburg.
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Built in 2008 and meticulously maintained by the original owner, the property is available off-market through a direct purchase from the Seller.
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The RockBridge team has developed a strong relationship with the Seller over several months.
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The Gables of Cornerstone features high-quality amenities. It will benefit from the introduction of a new professional management team from Carlisle Residential Properties. This change from the current self-management will enhance the property’s marketing and presentation.
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Both the property and the builder hold an excellent reputation in the Lynchburg market, making The Gables a highly attractive investment opportunity.
The Story Behind the Opportunity
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Downtown Lynchburg
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Residents and visitors can enjoy the Lynchburg Community Market, Amazement Square, the Academy Center for the Arts, the Get Downtown Festival, the First Friday Art Crawl, weekly outdoor movies at Riverfront Park, and a variety of other beer and wine festivals, all just 8.9 miles from The Gables.
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Riverside Park
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Encompasses 49 acres of rolling parkland, wooded hillsides, views of the James River, and a transportation exhibit including a caboose, tender, and locomotive; located 11.3 miles from The Gables, it also offers basketball and tennis courts, a playground, a "spray-ground" waterpark for children, and other amenities.
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City Stadium Complex
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Seats up to 10,000 people and includes a gravel track, grass field, natural turf, a scoreboard, and two press boxes, located just 6.1 miles from The Gables.
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Smith Mountain Lake
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35 miles away from The Gables and the second largest freshwater lake in Virginia and a water enthusiast’s paradise; activities include swimming, boat rentals, a boat ramp, a fishing pier, picnicking, a visitor center, an amphitheater, special programs, camping, miles of trails and cabins with boat docks.
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Our Experience
In this market, you need to rely on an experienced team of commercial real estate syndicators. Clive Capital and its partners have been working to syndicate build-to-rent and multifamily investment opportunities since the early 2000s and through the 2008 recession, leading to a combined 60+ years in experience. Click here for more information.
$1.2B+
3000+
$400M+
60+
ASSETS UNDER
MANAGEMENT
UNITS
EQUITY RAISED
YEARS OF EXPERIENCE
Have a question for our team? Book a call now to ask us anything.
Images
Unit Mix
Opportunity
Distribution Waterfall (Class A)
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Purchase Price $105,450,000
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Equity Raise - $38,832,889
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Cap Rate — Going In (blended): 6.53%
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Stabilized Yield On Cost (Untrended): 6.37%
How to Invest
Although this investment opportunity is currently closed, we encourage you to subscribe to our weekly newsletter to stay informed about future opportunities and never miss out again. Want to understand if you qualify for an investment opportunity? Feel free to schedule a no obligation call or sit in on one of our webinars or visit our Learn More page, Portfolio or view our blogs.
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