History
At Linden Property Group we’re always on the lookout for motivated people to join our team. We encourage you to connect and learn more about the possibility of working with us.
Linden Property Group Gutenberg Blocks
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Walnut Hill, a Linden Community
Petersburg, VA
In April 2021, Linden Property Group acquired Walnut Hill, a 168-unit affordable LIHTC apartment community in Petersburg, Virginia, as part of its affordable housing investment thesis. Over the course of ownership, Linden implemented a robust value-add strategy that included $1.6 million in capital improvements, approximately $9,000 per unit, bringing total project costs to $14.4 million. The team stabilized occupancy above 95% and reduced economic vacancy from 17% of income to 5% within just eight months. Linden upgraded 90 apartment units, achieving average rent increases of $250 per unit on turn, and enhanced community amenities including new seating and grill areas, an upgraded playground, and a fully renovated clubhouse. The successful turnaround ultimately led to a sale in 2024 to a national affordable housing investor for $18.3 million, delivering a 25% gross IRR to Linden's investors.
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Key Metrics
Nearby Employers / Employment Nodes
Petersburg High School - 1.3 miles
Virginia State University - 2.6 miles
Southside Regional Medical Center - 3.6 miles
Central State Hospital - 4.2 miles
Southpark Mall Retail Complex - 4.2 miles
Fort Lee Military Base - 6.0 miles
Amazon Fulfillment Center - 7.0 miles
Walmart Distribution Center - 8.7 miles
Capital Improvements
Service Improvements:
Increased office hours
Added new resident service events
Improved quality of on-site leasing & maintenance staff
Exterior and Common Area Improvements:
Added new grilling stations, pergola seating, pool refresh, and a renovated clubhouse
Repaved parking lots & sidewalks and pressure washed buildings
Refreshed landscaping & added new signage
Unit Renovations:
Fully renovated kitchens & bathrooms
New lighting, paint, hardware, and accessories throughout unit
New carpet flooring in bedrooms
Linden at Parkside
Richmond, VA
In January 2020, Linden Property Group acquired Linden at Parkside, a 156-unit garden style townhome community located in Henrico, Virginia. Since purchasing the property, Linden successfully repositioned the community from Class C to Class B through apartment renovations, common area additions, building system improvements, and landscaping enhancements. Implementing best-in-class property management has proved effective as economic occupancy increased from 86.3% to 93.5% within 24 months without displacing long-term residents. Throughout the pandemic, the on-site team proactively enrolled residents into rental assistance programs, collecting $275,000 in rental relief funds and limiting bad debt write-offs to 1.3% of scheduled revenue. Linden at Parkside is conveniently located within 3 miles of both Interstate 95 & 64 providing access to strong workforce housing employment drivers throughout the Richmond MSA.
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Key Metrics
Nearby Employers / Employment Nodes
Henrico High School - 0.5 miles
Amazon Robotics Center - 1.5 miles
Virginia Union University - 3.5 miles
Virginia Commonwealth University - 4.7 miles
Medical College of Virginia - 5.2 miles
Virginia State Capitol - 5.5 miles
Glen Allen, Virginia - 6.7 miles
Richmond International Airport - 11.6 miles
Capital Improvements
Exterior and Common Area Improvements:
Added new clubhouse, grilling stations, pergola seating area, and dog park
Repaved parking lots & sidewalks and replaced roofs
Refreshed landscaping & added new signage
Unit Renovations:
Fully renovated kitchens & bathrooms
New lighting, paint, hardware, and accessories throughout unit
New flooring in bedrooms and bathrooms
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Application
Interested in joining one of the top multi-family acquisition firms? We Invite you to reach out.
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Join Linden Property Group
Linden Property Group was formed in 2010 to acquire well-located multi-family properties that provide stable, risk-adjusted returns for our investors.
Team
Our team’s strength hails from our diverse backgrounds, personalities, and experiences.
Together, we work with the highest degree of expertise and commitment to provide the best outcomes for our investors and residents, made even more impactful with our shared passion for workforce housing.
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Open Positions
General Interest
Full Time / Arlington, VA 22203
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Get in Touch
Interested in learning more about future investments with Linden Property Group? We look forward to hearing from you!
4401 N. Fairfax Drive, Suite 340
Arlington, VA 22203
contact@lindenpropertygroup.com
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Linden focuses on workforce and affordable housing near amenities, employment, and transportation. We take an active role in asset management and capital markets, aiming to maintain optimal financial performance while providing first-class resident services for our communities. Our team has access to off market deal flow and extensive financing options through long-standing relationships with regional and national lenders, sellers, and brokers.
Linden has successfully acquired, financed, and operated communities in Virginia, the District of Columbia, Maryland, and West Virginia.
Who We Are
Our mission is to provide a high service apartment experience to renters of attainable housing while creating stable, risk-adjusted returns for investors. We achieve our mission by acquiring apartment communities in need of physical, operational or managerial improvements and executing a repositioning that elevates the properties to our exacting standards.
Our TeamWhat We Do
150+ Units with Total Deal Size of $25MM to $80MM
Workforce and Affordable Housing, affordable to tenants with incomes under 100% of Area Median Income
Asset purchase at a material discount to the replacement cost to construct the asset
Advantageous cost basis due to off-market deal sourcing, property or seller distress, or financing challenges
Viable investment using conservative capital, revenue, and exit assumptions
Target stabilized return on cost of 7+% and gross IRR of 16+%
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Partners
We are fortunate to partner and work with best-in-class regional and national business partners.
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Improving Communities,
Delivering Results.
Linden Property Group offers over 75 years of collective experience in the thoughtful acquisition and renovation of housing in the Mid-Atlantic region. Specializing in the creation and preservation of workforce housing, our proven management strategies have optimized asset value for investors while elevating the living experience for our residents.
Balancing an institutional-grade skill set with local knowledge, we thoroughly research our markets and have access to off-market opportunities. With proven risk management and active stewardship, our best in class multi-family assets provide stable returns for investors while benefiting our communities and the tenants who reside in them.
Our Portfolio
Demonstrated
Success
Our approach to maximizing a property’s potential is best illustrated through our projects and their successes. Renovating spaces, improving management, and upgrading services translates to elevated building performance, a better residential experience, and stronger communities.
Case Studies
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Our Impact
$170M
In Total Equity
Under Management
Under Management
$490M+
In Total Assets
Under Management
Under Management
27
Total Acquisitions to Date
Across 4 MSAs - 75%
of Transactions Sourced Off-Market
Across 4 MSAs - 75%
of Transactions Sourced Off-Market