Property Description: Future Gen REI acquired 2 apartment complexes, a combined 34-unit multifamily community located in Dyersburg & Newbern, Tennessee. McCullough, located in Newbern, TN is a 1980’s vintage brick garden ranch style building, consisting of 16 2-bedroom units. N Sampson, built in 1947 and part of the Dyersburg Historical District, is 6 1-bedroom and 12 2-bedroom units. The property represents a rare opportunity to acquire another off-market, well-located asset in a supply-constrained market with strong cash flow and substantial rent growth potential through targeted renovations and operational improvements.
ASSET PROFILE:
Acquisition Date: May 2026
Units: 34 Units • 6 1BR/1BA • 28 2BR/1 BA
Vintage: 947 & 1980
Status: Renovation and reposition
Asset Type: Value-Add Multifamily
Projected Hold Period: 5 years
Status: Under Contract and Raising Capital for Mid April closing
Updates:
- In the process of renovating the exteriors and interiors for both properties.
Investment Thesis:
- Off-market acquisition at a compelling basis with clear rent upside, backed by a hands-on sponsor with a proven track record of execution and value creation in the same submarket.
- Success at The Grove provides data-driven underwriting, local insight, and proven rent growth in the Dyersburg market.
- Established local relationships and shared operations between The Grove St John and Whispering Winds to drive efficiency and cost savings
