The country’s economy and real estate sector took a pretty hard hit in 2008, as everyone knows. Scott T. Sohr saw opportunity in that downturn, however; in 2010, he founded Elmington Capital Group, with the mission of acquiring distressed properties and REO real estate. Since then, Scott T. Sohr and Elmington Capital Group have put together a portfolio of over 300,000 square feet of office space, over 1000 apartment units, a number of residential communities and developments, and several office parks and commercial warehouse complexes, and is positioned to continue its growth scheme. The scale of Elmington Capital has given it the ability to swing real estate transactions that would be too big or expensive for smaller investors; Elmington then uses these investment vehicles to deliver the best returns possible to its stakeholders, according to Scott T. Sohr.
Information Nation: Welcome and thank you for joining us today, Scott T. Sohr. Please begin by telling our readers about Elmington Capital Group.
Scott T. Sohr: It’s my pleasure. Elmington Capital group is an investment firm that revitalizes struggling residential and commercial properties—along with many other business ventures—and helps pump new capital and equity into these enterprises. We’re located in Nashville, Tennessee.
Information Nation: We understand that recently Elmington purchased some apartments in Louisville, Kentucky…why Louisville?
Scott T. Sohr: Well, Louisville has seen major growth and expansion in recent years. It’s probably the most prosperous city in Kentucky, and in fact, the entire South. The downtown area is booming due to the recent revitalization, and it’s quickly becoming a major tourist destination.
Information Nation: What exactly do you believe has contributed to the growth of Louisville?
Scott T. Sohr: Part of the reason is the location. It’s very conveniently located at the interchange of several interstates. It’s also home to the University of Louisville, which has grown quite a bit in recent years. The school’s sports teams have huge followings and a giant fan base. All of this, combined with the city’s historic downtown district and new entertainment venues, make Louisville a destination city in the South.
Information Nation: Tell us about the community you purchased…
Scott T. Sohr: Well, we believe that this community is just a great investment all around for Elmington Capital Group. The apartments as a whole were $22 million, and they contain 596 units. When we purchased them, they were 97 percent occupied, which equals a strong revenue stream. Now it’s our job to continue making these apartments a desirable place to live and ensure that the occupation rate stays where it is or even increases.
Information Nation: How does this investment work out for Elmington Capital Group?
Scott T. Sohr: Well, when you do the math, it turns that each unit we purchased cost $36,900. So we feel that this was actually an excellent investment for our investors, as rental properties in hot cities like Louisville tend to only increase over time.
Information Nation: Finally, Scott T. Sohr, tell us what you hope to accomplish with this property?
Scott T. Sohr: Given its occupancy rate, we know the property was already successful. Now we hope to continue that success while also making sure our investment becomes one of the most desirable places to live in a truly up and coming city. Louisville is a special place, and we’re glad to be a part of it.
Scott T. Sohr is a land and real estate developer and entrepreneur based in Nashville, Tennessee. Scott T. Sohr has developed many successful residential neighborhoods in and around Middle Tennessee. Scott T. Sohr is a graduate of Franklin High School, and his familiarity with the South has helped Elmington Capital Group achieve success throughout the Southeast.