Monument Opportunity Fund
Monument Opportunity Fund (MOF) is the second fund launched by Monument Capital Management in 2014. MOF purchased 15 properties in 15 months, totaling $151 million and 3,000 units.
Building on the success of Monument Multifamily Investors Fund, MOF utilized a similar investment strategy identifying and acquiring workforce housing in key locations including North Carolina, South Carolina, Maryland, Ohio, Virginia, Texas, and Georgia.
For this fund, Monument Capital Management expanded its target areas from the Mid-Atlantic and Southeast to also include the Midwest and Southwest regions of the U.S. to further diversify its portfolio and capitalize on opportunities in the multifamily market.
Upon its close in 2020, the Fund generated a gross IRR in excess of 35%.
Fund Properties
Somerset Apartments – 240 Units
Location: Charlotte, NC
Purchase Amount: $4,900,000
Abbington Village – 194 Units
Location: Columbus, OH
Purchase Amount: $10,000,000
Ashley Village – 220 Units
Location: Columbus, OH
Purchase Amount: $10,000,000
Chatham Village – 136 Units
Location: Columbus, OH
Purchase Amount: $6,000,000
Courtship Village – 132 Units
Location: Lancaster, OH
Purchase Amount: $4,000,000
Frontier Apartments – 182 Units
Location: Roanoke, VA
Purchase Amount: $8,700,000
Oaks at Park South – 510 Units
Location: Oxon Hill, MD
Purchase Amount: $37,000,000
The Crossings at Allan Square– 111 Units
Location: Pasadena, TX
Purchase Amount: $4,100,000
The Crossings at Burke Regency – 190 Units
Location: Pasadena, TX
Purchase Amount: $7,200,000
The Crossing at Sun Meadow – 180 Units
Location: Pasadena, TX
Purchase Amount: $7,700,000
Laurel Pines– 120 Units
Location: Richmond, VA
Purchase Amount: $6,600,000
Reserve At Cavalier – 150 Units
Location: Greenville, SC
Purchase Amount: $6,900,000
Edgewater Trace – 159 Units
Location: Savannah, GA
Purchase Amount: $9,700,000
Timberland– 176 Units
Location: Savannah, GA
Purchase Amount: $10,800,000
901 Center Station – 400 Units
Location: Durham, NC
Purchase Amount: $17,300,000