Prager Property Management Atlanta
Prager Property Management Atlanta – Over the past 30 days, Mechanicsville home prices have dropped 62.7% from last year. The median home price was $146,633. See Mechanicsville Market Insights
Homes for sale in Mechanicsville, Atlanta, GA sold for an average price of $146,633 in the last 30 days, a decrease of 62.7% compared to the same period last year. The average price per square foot was $97.67, down 41.7% from last year. 4 houses were sold, compared to 9 last year.
Prager Property Management Atlanta
In the last 30 days, the average home sale price in Mechanicsville was $146,633, down 62.7% from the same period last year. The “median” price is the average price – half of the houses here sold for less, the other for more.
Hubbard St Sw, Atlanta, Ga 30310
As of October 11, 2022, 12 homes have been sold in Mechanicsville. There were also 5 new ads in the last 30 days. The more homes on the market, the more choices buyers have.
New homes and homes for sale on the classifieds pages are updated hundreds of times daily, and Mechanicsville listings were last updated on
Over the last 30 days, the average number of days a Mechanicsville home stayed on the market (DOM) was 11. In areas with low DOM, homes sell quickly and competition is fierce; in regions with a higher DOM, you may have more options and more time to bid. Vinebrook Homes Trust Inc., a private real estate investment trust managed by subsidiary NexPoint Real Estate Advisors, has agreed to purchase a portfolio of approximately 3,000 single-family rental homes for $354.2 million, according to a filing with the Securities and Exchange Commission. papers and exchanges.
According to the sales contracts, the sellers appear to be affiliates of a joint venture between two Atlanta real estate companies, The Ardent Companies and The Prager Group.
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The 3,000 homes are located in eight states, including Georgia, Tennessee, Missouri, Florida, North Carolina, South Carolina, Mississippi and New Mexico, with the largest concentration in the Southeast. As of September 30, 2021, the portfolio was 84.8 percent occupied with an average monthly rent of $1,043.
In addition to the property acquisition, Prager Property Management has agreed to sell Vinebrook assets used in portfolio management for approximately $7.5 million.
The acquisition is expected to close in December 2021 or January 2022, with a target date of December 31, 2021. Vinebrook intends to finance the purchase with cash on hand, debt financing and assume a portion of the sellers’ debt.
Vinebrook Homes Trust launched a Regulation D private placement offering in November 2018 and raised more than $370 million, including a distribution reinvestment plan. The REIT’s portfolio consists of 14,697 single-family rental properties valued at nearly $1.8 billion as of Q2 2021. Winebrook recently became a 12(g) filer and files quarterly and annual financial statements with the SEC along with other reports required by federal securities laws. By signing up, you agree to provide us and Mailchimp with your email address to receive marketing, update and other emails from us. Use the unsubscribe link in these emails to opt out at any time.
Hank Aaron Dr Sw, Atlanta, Ga 30315
Demareo Grandberry says he’s having a hard time getting the attention he deserves on scheduled maintenance issues from his landlord, the Prager Group. Photo by Andrea Morales for .
In March 2020, as the world changed, a major real estate transaction slipped past the Memphis media.
Atlanta-based real estate investment firm The Prager Group has bought 435 homes for $31.2 million from Cerberus Capital Management, a large private equity firm that a Washington Post investigation called aggressive with evictions and numerous code violations.
From no heating in the winter to severe leaks that soak carpets for months on end, nearly every Prager tenant interviewed described deep frustration with the company, saying it doesn’t maintain their homes as well as their previous landlord.
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“When you called (Cerber), they would go ahead and send someone over,” said Demareo Grandberry, a Westwood resident who lives with his girlfriend and six children. “With these people, our heater didn’t work at one point and it took them three months to come (fix) it.”
Prager representatives in Atlanta and Memphis did not return multiple calls and emails from Justice Through Journalism. The property management company’s website says it has “earned a reputation for providing homes with exceptional service”.
A few nights last winter, April Chambers sent her four children away to friends and family, a decision that made her feel guilty even though she knew it was for the best.
“You feel like you’re not doing what you’re supposed to be doing when you have to take your kids away from somebody,” Chambers said. “They should be here in a nice, warm, stable home, and I couldn’t give them that.”
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To provide a stable home, Chambers worked seven nights a week at the Richardson International factory south of Central Gardens and regularly paid $750 a month in rent for a house in Raleigh that Prager owns.
Grandberry’s girlfriend, Tiffany Danberry, cooks dinner at the stove for the kids before heading to work. Since the management of their rental home was transferred to the Prager Group, the family faced significant delays in repairing the heating system and the malfunctioning oven. Photo by Andrea Morales for
In mid-November 2020, a fuse blew, knocking out power to half of her house — including the furnace. The first person Prager sent replaced the fuse, but it quickly blew again. A second person sent by Prager told Chambers that the home’s electrical system was in a “very dangerous” condition that would require major work to repair. He also advised her to call law enforcement, but Chambers feared the city would shut off the rest of her power if she did.
Until she moved in mid-January, Chambers and her children were just getting by. On nights when the children slept in the cold house, they slept in the same room — wrapped in blankets and relying on the space heater for warmth.
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Five of the seven tenants Prager reached out to — mostly through door knocking — had at least one example of the company failing to fix a serious problem, and six said the company was slow to respond to service requests, if at all. One tenant really raved about the company, saying that their service technicians usually showed up a day or two after he made a request.
Broken heating systems and leaky roofs — expensive repairs — were the most common problems tenants reported Prager didn’t address.
Prager’s current tenant, who declined to be named for fear of eviction, said her roof is in such bad shape that during rainy weeks, water soaks into the carpeting in her sunroom. Because the company was unable to resolve this and other major issues over the past year and a half, it said it has stopped submitting maintenance requests.
When Cerberus owned her home, the same woman said her maintenance quickly fixed her air conditioner when it broke.
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At the Grandberry rental home, some of the other issues they’ve faced since the Prager Group took over include (left) unfinished closet and counter repairs after an unresolved plumbing issue led to mold and mildew; (top right) multiple inquiries about the bullet hole in their daughter’s bedroom door and wall from a stray bullet; and (below right) the shower liner, glued to the adhesive, which began to come apart quickly. Photographs by Andrea Morales for
The homes that Cerberus sold to Prager are located primarily in low-income neighborhoods such as Frayser, Westwood and Oakhaven, and were mostly less expensive homes that Cerberus owned. The average home in Memphis still owned by Cerberus is worth about $145,000, while the average Prager-owned home is worth about $85,000, according to an analysis by the Shelby County Property Assessor.
In the 18 months after the sale, there were 379 requests for help from the city of Memphis for things like sewer backups, broken heaters and damaged property — including seven that claimed emergency priority — for the homes purchased, according to city data. Prager In the 18 months prior to the sale, 349 complaints were made to these addresses, none of which reached the level of an emergency.
In August, Stacey Glepion’s air conditioner broke down in the scorching heat, and no one in Prager was answering her calls.
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Within a few days, they and their son began to feel lethargic and sick. Because she has an autoimmune disease, her doctor told her to check herself into the hospital so her body could cool down.
“My temperature was elevated; my pressure rose,” said Glapion. “My doctor said nonsensically, ‘You could have died.’
After being discharged from a local hospital, Glapion still hadn’t heard from her landlord, so she purchased window units that justified her investment. Speaking more than three months after the incident, she said the central air conditioning system in her Frayser home was still malfunctioning.
Although the “air situation”, as she calls it, was the worst problem for Glapion
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