Richmond real estate investment firm stays sweet on Dollar General properties
Richmond, Virginia, April 21, 2020
Battle Monument Partners purchased six Dollar General properties in Louisiana and Alabama last month for $4 million total. The deal brings Battle Monument’s total property count to 41, of which 31 are Dollar Generals.
According to the article released by Richmond BizSense,
“The downtown-based firm’s approach of targeting discount retailers in small markets has made for high growth: Battle Monument posted over 1,000 percent growth in revenue between 2015 and 2017, and 134 percent growth between 2016 and 2018. That landed it on the RVA 25 list of the region’s fastest-growing companies.”
John Oliver, Co‐Founder of Battle Monument Group, said the firm’s attracted to Dollar Generals for three main reasons.
"One is that they’re in a defensive part of the economy. When we first started we knew we wanted assets that would do fine in a recession. The second part of it is, the Dollar General stores that we buy are typically 10 years old or more. For a variety of reasons that we’ve come to understand, those properties are priced at a discount. And third part is we are convinced they have very low risk because not only are they defensive assets, but they’ve been proven to the company. Dollar General’s been operating these for about 10 years.”
Richmond BizSense is the River City’s premier source of business news and information.
Battle Monument Group LLC is a Richmond, Virginia private equity fund that favors stabilized, single-tenant retail properties. The company’s investments are heavily focused on discount retailers. For further information contact John Oliver, at [email protected]