Projects

Rodeway Inn Conversion to Hermitage Studios (Nashville)

  • Description - In June of 2022 AGB Real Estate, LLC acquired the 108-room Rodeway Inn located in Hermitage, TN just outside of Nashville, TN for $6,500,000 ($55k/unit).

    Prior to the acquisition, AGB Real Estate had expeditiously taken the property through the required Specific Plan (SP) rezoning process. Within 3 weeks of closing on the property, the Sponsors embarked on the renovation which included a full-gut renovation of every unit and common areas, added fire sprinkler & suppression throughout, as well as a new gym and BBQ/amenities deck.

  • Renovation Duration: 10 months

America’s Best Value Inn to Wallace Studios (Nashville)

  • In August of 2023, AGB Real Estate acquired the 126-room America’s Best Value in Nashville, TN for $10,000,000 ($79k/unit). With the Multifamily Use permitted by right, Sponsorship started demolition and renovation work within 24 hours of closing on the property.

    AGB Real Estate completely renovated all the units with new kitchens, bathrooms, and add fire suppression systems throughout the asset - including 2 new fire hydrants. They also added 6 units to bring the total room count to 132.

  • Duration: Sponsorship completed all demolition, remodeling, and addition of new units in ~10 months

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Various Subsidized Properties Throughout Washington, DC

  • Between 2017 and 2020, Sponsorship acquired 10+ vacant properties on scattered sites throughout the Nation’s Capital that were converted to multifamily housing for families and individuals who held Housing Choice Vouchers.

    The properties were in significant disrepair and all needed extensive renovation. The renovation included underpinning work to improve ceiling heights in lower levels and adding livable floor area as allowed by zoning codes.

    All units are fully leased and the portfolio will be held for cash flow.

  • Duration: Frmo purchase to lease-up, the process ranged from 12 to 18 months.

HomeTowne Studios Nashville - Airport to GreenView Studios (Nashville)

  • In may of 2024, AGB Real Estate acquired the 120-room HomeTowne Studios Nashville TN

    AGB Real Estate completely renovated all the units with new kitchens appliances, bathrooms, and repaired the fire suppression systems throughout the asset.

  • Duration: Sponsorship completed all demolition, remodeling, and addition of new units in ~6 months.

Magnuson Grand Columbus North to Lumarc Apartments (Columbus, Ohio)

  • In May 2025, AGB Real Estate acquired the 180-room Magnuson Grand Columbus North hotel, marking the beginning of an exciting transformation. The property will be fully renovated into modern rental units, each equipped with brand-new kitchens and bathrooms. Residents will also enjoy thoughtfully designed common areas including a coworking space, shared kitchen, TV lounge, and playroom. This market-rate housing project reflects our commitment to revitalizing underutilized assets and contributing to the growth of Columbus, Ohio.

  • Duration: Sponsorship plans to complete all demolition, remodeling, and addition of new common areas in ~6 months