BATTLE MONUMENT GROUP ACQUIRES 44 DOLLAR GENERAL STORES
April 30, 2021
Local Fund Expands to 115 Properties in 20 States
Battle Monument Group, a Richmond private real estate fund, has acquired a portfolio of 44 established Dollar General properties. The properties are spread across 8 states, with concentration in Florida, Mississippi, and Texas. The company now has 115 properties in 20 states, largely in the Southeast.
“Peter Stark and I covered a lot of miles doing site visits and due diligence on these 44 properties.” said John Oliver, Managing Partner for the Fund. He went on to say, “It was a bit of a COVID odyssey, and we had to dodge two major storms in Texas, but it was well worth it to own such strong properties.”
Battle Monument Group purchased the $41 Million portfolio with financing from three lenders, including Southern Community Bank.
“Southern Community Bank worked closely with us to help finance an important segment of the deal.” said Mike Brumagin, Co-Founder of Battle Monument Group. “Matt Paciocco, Market President for the Bank, has been a great local partner for us. We see great value in having the right banking partnerships.”
Battle Monument Group LLC is a Richmond, Virginia real estate fund that favors stabilized, single-tenant retail properties, in defensive segments of the economy. The company focuses on discount retailers. Learn more at battlemonument.com.
Southern Community Bank has opened its initial location at 4421 Cox Road in Glen Allen and may be found online at southerncommunitybank.com. Sevier County Bank was founded in 1909 and currently has $420 million in assets with six locations in the Sevier County market.