Author: Justin Lancellotta

29th Street Capital Expands Denver Portfolio; Acquires The Carson Apartments

Aurora, Colo. (June 14, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired The Carson Apartments, a 201-unit multifamily community located in Aurora, Colorado. 29SC plans to invest over $1.7 million in capital improvements. Interior upgrades will include updated flooring, cabinetry and countertops, modern gray paint scheme, black appliances and the addition of washer/dryers in two-bedroom units. Exterior renovations will focus on landscaping upgrades, window replacements, exterior paint, signage and rebranding. “The Carson is approximately 100…

29th Street Capital Expands Phoenix-Area Portfolio; Acquires Las Casitas Apartments

Avondale, Arizona (June 12, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Las Casitas Apartments, a 168-unit multifamily community located in Avondale, Arizona. This will be the firm’s 13th acquisition, for a total of more than 2,500 units, in the Phoenix market. 29SC plans to invest over $2.1 million in capital improvements. Interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes. Exterior renovations will focus on enhancing the…

29th Street Capital Acquires Terrace at Fair Oaks Apartments; Property is Firm’s Sixth Sacramento-Area Acquisition

Sacramento, Calif. (May 31, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Terrace at Fair Oaks Apartments, a 1972 vintage, 76-unit multifamily community located in Carmichael. 29SC plans to invest approximately $11,000 per unit in capital improvements. Interior upgrades include stainless steel appliances, durable flooring, improved cabinets, fresh paint and energy-efficient plumbing fixtures. Exterior renovations will focus on window replacements, parking lot improvements and landscaping upgrades. “We think the Carmichael submarket offers a great living…

29th Street Capital Acquires Cumberland Crossing Apartments; Community is Firm’s Ninth Atlanta-Region Acquisition

Atlanta, Georgia (May 30, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Cumberland Crossing Apartments, a 1973 vintage, 286-unit multifamily community located in Marietta. 29SC plans to implement a capital program to enhance curb appeal, improve amenities and will be renovating unit interiors. The asset was purchased with an existing Fannie Mae loan which had to be assumed at closing. “We are very excited to add this asset to our portfolio” said Javier Bustillo, Senior…

29SC Adds Jason de Guzman to Head Acquisitions in Los Angeles

Los Angeles, Calif. (March 2019) – Jason de Guzman has joined 29th Street Capital as Senior Vice President of Acquisitions for Los Angeles. De Guzman is responsible for all facets of the privately-held real estate investment and advisory firm’s activity in the Southern California market, and will lead all multifamily acquisitions and asset management strategies there. He has over 15 years of real estate acquisitions, development and management experience across every asset type, primarily in the multifamily sector. De Guzman…

29SC Adds Kevin Smith to Head Opportunity Zone Development in Northern California

Sacramento, Calif. (March 2019) – Kevin M. Smith has joined 29th Street Capital to spearhead a new development platform for the privately-held real estate investment and advisory firm. Smith will serve as Senior Vice President of Development for Northern California. He will be responsible for all facets of the firm’s multifamily development activity. “Up until now, our team has focused on acquiring and upgrading multifamily communities across the country,” said 29th Street Capital Managing Director Robert Bollhoffer. “Kevin gives us the…

29th Street Capital Acquires Limestone Apartments; Community is Firm’s Ninth Houston-Area Acquisition

Houston, Texas (March 12, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Limestone Apartments, a 1999 vintage, 438-unit multifamily community located in West Houston. 29SC plans to implement a capital plan which will include Interior upgrades new granite countertops, modern paint, black appliances, and new cabinets. Exterior renovations will focus on landscaping, signage and amenity improvements. “This is a newer, high-quality asset in a growing submarket,” said Doug Burt, Vice President of Acquisitions in Houston.…

29th Street Capital Expands Tampa Bay Area Portfolio; Acquires The Park at Avilla and The Park at Pienza Apartments

Brandon, Florida (March 1, 2019) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Park at Avilla and The Park at Pienza Apartments, a two property, 200-unit multifamily portfolio in Brandon, Florida. 29SC plans to make cosmetic improvements to unit interiors, including adding high-quality laminate countertops, vinyl plank flooring, modern paint schemes and stainless steel appliances. The firm also plans value-creating improvements to the clubhouse, fitness center, grilling area, roofing, exterior staircases, landscaping…

29th Street Capital Acquires Senior Housing Community; Acquires Shekinah Home, Ga. Assisted Living Community

Norcross, Georgia (March 1, 2019) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Shekinah Home, a community for seniors in Norcross, Georgia. The new owner plans to improve the quality of life and increase activities for the residents of the assisted living community. In addition, 29SC plans cosmetic upgrades including modern flooring, new lighting and plumbing, and bathroom enhancements. Exterior improvements will include paint, landscaping, branding/signage and upgraded amenities. “Shekinah Home is the…

29th Street Capital Acquires Calais Park Apartments; Community is Firm’s First Tampa-St. Petersburg Area Acquisition

St. Petersburg, Florida (February 14, 2019) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Calais Park Lofts Apartments, a 261-unit multifamily community in St. Petersburg, Florida. 29SC plans to make cosmetic improvements to unit interiors, including new granite countertops, stainless-steel appliances and backsplashes, and re-facing the cabinets. Exterior projects will focus on clubhouse and fitness center improvements, refreshing the landscaping and updating the signage. A new system will notify residents when packages are…