BATTLE MONUMENT GROUP COMPLETES 21 UNIT ACQUISITION
Updated: Mar 11
Local Fund Works with Southern Community Bank on $14.5MM Transaction
Richmond, Virginia, February 23, 2021
Battle Monument Group, a Richmond private real estate fund focused on providing fixed income for veterans and industry leading professionals, has raised the bar again. The company closed yesterday on a portfolio of 21 Dollar General properties located in Alabama, Kentucky, Mississippi and Tennessee. This brings the company to 70 properties, of which 60 are Dollar General stores:
“We are thrilled to put this capital to work for our investors.” said John Oliver, Manager of the Fund. He went on to say, “The strength and stability of these properties, in the face of broad market volatility, continues to give us confidence. We love paying steady dividends to investors, and Dollar General is a great niche for us.”
Battle Monument Group purchased the $14.5 Million portfolio of properties with financing provided by Southern Community Bank.
“Southern Community Bank announced their entry into the Richmond market just six weeks ago and has been an incredible partner on this transaction.” said Mike Brumagin, Co-Founder of Battle Monument Group. “Matt Paciocco, Market President for the Bank, saw an opportunity to work with us and really seized on it. We see great value in having the right banking partnerships.”
Battle Monument Group LLC is a Richmond, Virginia real estate fund that favors stabilized, single-tenant retail properties, in defensive segments of the economy. The company focuses on discount retailers. Learn more at www.battlemonument.com.
Southern Community Bank has opened its initial location at 4421 Cox Road in Glen Allen and may be found online at www.southerncommunitybank.com. Sevier County Bank was founded in 1909 and currently has $420 million in assets with six locations in the Sevier County market