DJ Acquisitions Closes 82 Million Dollar, 1240 Unit Sale in Memphis, Tennessee

By Georgio Salas.
Updated Sep 18, 2021

MEMPHIS, Tenn. (PRWEB) September 18, 2021 - DJ Acquisitions, LLC is a growing, innovative, and driven real estate investment and property management company based in Miami, Florida. Since its inception in 2010, DJ Acquisitions has managed over $350 million in apartment communities and over 4,500 units in 4 states. By means of its excellent management, a focus on company culture, and a boots on the ground hands on approach, DJ Acquisitions has strategically stabilized deals in a shortened period of time. This is a true testament to the amazing work of our construction and asset management teams, said CEO and Founding Partner, Jonathan Fridlender. We were pleasantly surprised with how quickly we were able to reposition the community given the various market factors we had to deal with.

This sale ranks amongst the highest in price per door for workforce housing in the Memphis area, with the disposition price of $66,129 per door more than doubles the acquisition price of under $32,900 just a year and a half ago.

Selling this portfolio was the first of many moves the company plans to make in Q4. 'It was a very strategic move in our vision to continue to grow independently and aggressively over the next 18 months', said Fridlender. We are looking to complete 4-5 transactions totaling 1,500-2,000 units to add to our current robust portfolio of 1,800 in multiple states.

DJ Acquisitions typically focuses on C and low to mid B Class properties for its multifamily acquisitions, preferably in suburban locations with good access to employment centers, population growth, and strong demographics. Individual transaction size is $5 million $75 million, with asset sizes of 150-700 units. We acquire underperforming multifamily real estate assets that are in select submarkets. These are properties where we can add value through capital improvement programs, rehabilitation, professional property management, and repositioning. Please address all inquiries to: acquisitions@djacq.com