Battle Monument Group Completes 21 Unit Acquisition
Local Fund Works with Southern Community Bank on $14.5MM Transaction
April 1, 2021 – Richmond, Virginia – Battle Monument Group, a private real estate fund focused on providing fixed income for investors that are veterans and industry leading professionals, has completed its largest transaction to date. The company closed yesterday on a portfolio of 21 Dollar General properties located in Alabama, Kentucky, Mississippi and Tennessee. This brings the company to 71 properties, of which 63 are Dollar General stores:
“We are thrilled to put this capital to work for our investors.” said William Oliver, Manager of the Fund. He went on to say, “The strength and stability of these properties, in the face of broad market volatility, gives 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 Sevier County Bank.
“Sevier County Bank announced their entry recently in the Richmond market. They have been an incredible partner on this transaction.” said Mike Brumagin, Co-Founder of Battle Monument Group. “Matt Paciocco, Market President for the Richmond Bank, saw an opportunity to work with us and 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, an office of Sevier County Bank, has opened its initial location at 4421 Cox Road in Glen Allen and may be found online at www.southerncommunitybank.com