In 2016, VCBank and its investors acquired a 90 per cent stake in Bridgewater and Preston Creek in Atlanta, Georgia, USA. This marked VCBank’s first investment in the US multifamily sector, in cooperation with its US joint-venture partner offering extensive experience in the management and operation of multifamily residential assets. The Bridgewater property sits on 260,000 square metres of gated land, and consists of 532 residential units spread over 36 buildings; while the Preston Creek property covers 206,000 square metres of gated land, comprising 334 residential units in 19 buildings. Both properties have excellent locations in Atlanta, and feature a wide range of recreational facilities within a garden-style community. Since acquisition, the properties have provided investors with quarterly dividends equating to an annual cash-on-cash return of 8.5 per cent. This exit generated a return on investment of 49 per cent, and provided investors with an internal rate of return of 13 per cent for over the four-year holding period.