Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Heritage Place and Regency Apartments, a 208-unit multifamily portfolio located in Meridian, Mississippi. The offering includes Heritage Place (128 units) and Regency Apartments (80 units), two communities located in close proximity within the established and desirable North Meridian corridor. The pairing provides investors with immediate scale, operating efficiencies, and the ability to implement a cohesive management and value-add strategy within the same submarket. Heritage Place has received $805,440 in capital improvements (approximately $6,300 per unit), with investment strategically allocated across interior renovations and major systems. Improvements include unit upgrades, flooring replacements, painting and resurfacing, appliance upgrades, HVAC improvements, plumbing and electrical repairs, and exterior and roofing enhancements. These improvements materially reduce deferred maintenance and position new ownership to focus on revenue growth initiatives. Regency Apartments has similarly benefited from $517,357 in recent capital expenditures (approximately $6,500 per unit). Ownership has completed unit renovations, flooring upgrades, HVAC improvements, plumbing and electrical work, and extensive exterior, roofing, landscaping, and common area enhancements. The capital infusion provides a strong operational base while allowing for continued interior upgrades and rental growth opportunities. Meridian serves as a regional economic hub for East Mississippi and West Alabama, supported by a diversified employment base across healthcare, military, manufacturing, and logistics. Naval Air Station Meridian remains a long-term economic anchor, while Anderson Regional Medical Center and Rush Foundation Hospital provide significant employment stability. Residents also benefit from proximity to Bonita Lakes Park and the Highway 39 North retail corridor, supporting sustained renter demand. The portfolio offers investors the opportunity to acquire meaningful scale in a stable, yield-driven workforce housing market with continued upside through operational efficiencies and structured interior renovation programs. The assets will be offered free and clear of existing debt, and both portfolio and individual acquisition strategies will be considered.