Author: Justin Lancellotta

29th Street Capital Acquires River Blu Apartments; Firm’s Fifth Sacramento Acquisition

Sacramento, Calif. (Sept. 28, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired River Blu Apartments, a 417-unit multifamily community located in the La Riviera submarket of Sacramento. 29SC plans to invest approximately $4.3 million in capital improvements focusing primarily on unit renovations, clubhouse upgrades and amenity enhancements. Kitchens will get stainless steel appliances, vinyl flooring and upgraded cabinets. Bathroom upgrades are expected as well. “The purchase of River Blu Apartments marks our…

29th Street Capital Expands into Senior Housing; Erik Kolacinski to Source Deals Nationally

Atlanta, GA. (July 9, 2018) – Erik Kolacinski has joined 29th Street Capital as the Senior Vice President of Senior Housing. Kolacinski will be responsible for all facets of the privately-held real estate investment and advisory firm’s activity within the senior housing sector, focusing on acquisitions and asset management across the country. “With a significant background in healthcare management and operations, we are excited that Erik is becoming part of our team and implementing our value-add strategy on senior housing…

29th Street Capital Acquires Twin Trees Apartments; Community is Firm’s First Salt Lake City-Area Acquisition

Layton, Utah (June 29, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Twin Trees Apartments, a 43-unit multifamily community in Layton, Utah. 29SC plans to invest approximately $10,000 per unit in capital improvements, including upgraded countertops, cabinets, floors, appliances, lighting and fixtures. Exterior projects will include better landscaping, new heating and air conditioning units and curb appeal enhancements. The property is situated about 20 miles north of downtown Salt Lake and is…

29th Street Capital Expands Denver Portfolio; Acquires Crestone and Phoenix Apartments

Brighton, Colo. (May 22, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired two multifamily communities in Brighton, Colorado. The portfolio, comprised of 76 units, is situated near Hwy. 85 and several daily conveniences. 29SC plans to invest approximately $1.1 million in capital improvements including vinyl flooring plus new cabinets, countertops, plumbing and light fixtures. Exterior improvements will include a modern paint scheme, extensive landscaping and improved amenities. “Brighton is a short drive…

29th Street Capital Hires in Florida; Ryan Smyth to Seek Multifamily Deals in Central Florida

Orlando, Florida (May 21, 2018) – Ryan Smyth has joined 29th Street Capital (29SC) as Vice President of Acquisitions for Florida, with a focus on Central Florida. Smyth is responsible for all facets of the privately-held real estate investment advisory firm’s multifamily acquisitions and asset management strategies in the state. He will target opportunistic and value-add acquisitions with the goal of establishing a strong company presence in the market and add to the company’s existing portfolio, which spans coast to…

29th Street Capital Expands into Military Housing; Bryson Clements to Source Military Housing Acquisitions

Chicago, Illinois (May 2018) – Bryson Clements has joined 29th Street Capital’s (29SC) Chicago office as a Senior Vice President of Acquisitions focused on military housing nationwide for seniors, students, disabled veterans and active-duty personnel. “Bryson has a remarkable track record that exemplifies what we look for in new hires,” said 29th Street Capital’s Managing Director Robert Bollhoffer. “He has had a variety of leadership and entrepreneurial roles that involved investments, management and capital markets as well as a host of…

29th Street Capital Acquires 7th Chicago-Area Acquisition

Westmont, Ill. (April 26, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Warwick Apartments, a 32-unit multifamily community in Westmont, IL. 29SC plans to invest approximately $500,000 in capital improvements, including stainless steel appliances, modern paint, countertops, cabinets and bathroom improvements. Exterior projects will include roof repairs, window replacements, paint and modern lighting. “Warwick Apartments presents a great opportunity to expand the reach of our Chicago portfolio,” said Dan Howard, Senior Vice…

29th Street Capital Expands Student Housing Portfolio

San Marcos, Texas (March 16, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired two more student housing communities, The Edge and The Lodge, near Texas State University (TSU) in San Marcos, Texas. The portfolio has a combined 1,249 beds across 431 units. 29SC’s strategy is to invest over $4 million to significantly improve the unit interiors as well as each property’s exterior and amenity package. Interior renovations will include new granite countertops,…

29th Street Capital Acquires Third Louisville-Area Property

Louisville, KY. (March 5, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Cloisters Apartments its third acquisition in the Louisville market. The 39-unit multifamily property is located approximately one mile east of downtown Louisville in the Butchertown neighborhood and is minutes away from the proposed site of the future Louisville City Football Club stadium. The Cloisters was once the chapel and convent for the Ursuline Academy of Immaculate Conception, and in…

29th Street Capital Acquires Second Sacramento-Area Property

Rancho Cordova, CA. (January 26, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Sycamore Square Apartments, a 140-unit multifamily community in Rancho Cordova, California. 29SC plans to implement a $1.2 million capital improvement program to renovate interiors, enhance the exterior and improve the amenities, which will include pool and clubhouse upgrades. Sycamore Square is approximately 10 miles east of downtown Sacramento. “I’m pleased to continue our expansion in Sacramento and execute on…