Chattanooga, Tennessee--(Newsfile Corp. - August 18, 2023) - Southeast real estate investment company Fisher Bay is announcing the acquisition of six iconic and historic landmark properties in Chattanooga, Tennessee. The properties were purchased from Enclave Holdings on Wednesday, July 19th using the investment holding company Historic Holdings, LLC.
"We are thrilled to add these historic properties to our portfolio and continue to contribute to the preservation and revitalization of Chattanooga's architectural gems. Each property holds a unique place in the city's history, and we are committed to maintaining their historical significance while providing exceptional living and commercial spaces for the community," said Robert Fisher, a founder and partner in Fisher Bay.
Fisher Bay has been building a portfolio of value-add properties that range from residential, condo conversion and office assets. With this acquisition, Fisher Bay now owns 6 properties on Georgia Ave within 4 blocks. They include the Dome Building, Flatiron Heights, Fitzgerald Apartment, Hogshead Apartments and two commercial spaces, all located centrally around the Hamilton County Courthouse. "Chattanooga is going through a transformation and urban growth downtown continues to be strong. We love investing in this downtown historic corridor," explained Fisher.
This acquisition has five general partners (GPs) that will manage the investment and assets. Along with the three partners at Fisher Bay, Robert Fisher, Dan LeVan and Bo Ferger, Fisher Bay has added two additional GPs: Perry Underwood, who has 20 years as a multi-discipline real estate investor with 37 acquisitions and is the CEO of Choice Title in Ringgold, GA and Saurabh Patel, who has 20+ years as a real estate investor and multi-location local convenience store business operator.
Fisher Bay acquired the properties with mostly local investors who share the same vision. "We extend our heartfelt appreciation to our valued accredited investors, including the Aslan Fund II, whose unwavering support and confidence in our mission have been instrumental in the success of this acquisition," said Ferger.
About Fisher Bay, LLC
Fisher Bay is a Southeast commercial real estate investment company based in Chattanooga, Tennessee. The company believes that providing great residence and tenant experiences will lead to strong communities. Tenant satisfaction and enjoyment increase demand to be part of such communities and will result in higher persistency, lower vacancies, and ultimately provide high yield returns for investors. Property types include multi-family, mixed-use and office to condo projects. For more information, visit Fisherbay.com.
MEDIA CONTACT:
Bo Ferger
(423)339-7450
bo@fisherbay.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177732
