WestHaven at Vinings
VCBank and its investors acquired a 90 per cent interest in the WestHaven at Vinings property in Atlanta, Georgia, USA in 2016. The property is a 610-unit garden and town home-style apartment community located within the exceptional Smyrna submarket, approximately 12 miles northwest of downtown Atlanta. It consists of a family-friendly mix of spacious one-, two- and three-bedroom units built to an “A” standard, with an amenity package that sets it above other properties in the market. WestHaven at Vinings is on track with its renovation programme for exterior and interior works, with all units having been leased and achieving budgeted rent levels. Due to its excellent performance to date, the property has been paying investors quarterly dividend distributions in line with the expected annual cash return of 8.5 per cent.