Atlanta MSA, GA, July 2, 2021 - Blue Lake Capital, led by its Founder and CEO, Ellie Perlman, is proud to announce the successful disposition of the Legacy Portfolio in the robust and thriving submarkets of the Atlanta MSA. This portfolio, a combination of Legacy at Lanier in Gainesville, GA, and Legacy at Norcross in Norcross, GA, exceeded Blue Lake Capital’s projections.

The allure of the portfolio is attributed to its exemplary performance, particularly throughout the course of the pandemic. The portfolio exited with an average occupancy of over 95%, while the portfolio’s rent increases in the past 12 months ranged between 20.68% to 42.77%, as a direct result of Blue Lake Capital’s execution of a creative, pandemic-adaptive, value-add strategy. In addition, the timing of market demand was well anticipated and allowed Blue Lake Capital to seize the opportunity by exiting after only 21 months, as opposed to the original holding plan of 5 years.

Blue Lake investors achieved 25% IRR, while Blue Lake also exceeded cash-on-cash projections of 8% preferred returns. In addition, Blue Lake Capital also successfully positioned investors to capture further tax benefit opportunities by offering a well-timed 1031 exchange option.

Blue Lake Capital would like to extend special acknowledgments to key associates that participated in bringing this disposition to a successful close: Cozen O’Connor, NorthMarq, and First Communities.

About Blue Lake Capital, LLC

Blue Lake Capital was founded by Ellie Perlman, a former real estate lawyer and property manager, based out of Providence, RI. The Company's core values are Vision, Ambition, and Discipline, as it strives to be the leading multifamily sponsor in the U.S. while applying discipline and conservatism. Blue Lake Capital prides itself on finding the best value-add opportunities across the United States by specializing in unlocking value in multi-family properties.

A defining factor of Blue Lake Capital’s strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Blue Lake is able to lead commercial investments with the full capabilities of today’s technology.

Blue Lake Capital’s first priority is to our family of investors, and we nurture and guard those relationships. We emphasize open communication and transparency in conducting business.