Category: Acquisition

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 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…

29th Street Capital Acquires The Dylan Apartments; Community is Firm’s First San Diego County Acquisition

Oceanside, California (January 31, 2019) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Dylan Apartments, a 207-unit multifamily community in Oceanside, California. 29SC plans to invest approximately $8,500 per unit in capital improvements, including modern flooring, new cabinet fronts, interior doors, hardware and appliances as needed. Exterior projects will include patio pavers and higher-quality finishes in addition to curing deferred maintenance. “We believe The Dylan is a tremendous opportunity to enter the…

29th Street Capital Acquires Willows at Town Center Apartments; Community is Firm’s Fourth Las Vegas-Area Acquisition

Las Vegas, Nev. (Jan. 28, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Willows at Town Center Apartments, a 188-unit multifamily community located in Las Vegas, Nevada. 29SC plans to invest over $1.8 million in capital improvements. Interiors will receive stainless steel appliances, quartz countertops, plank flooring and refaced cabinets. All interior units will also be equipped with Nest Thermostats. Exterior improvements will focus on modern paint in addition to enhancing the pool area, fitness…

29th Street Capital Expands Denver Portfolio; Acquires Southglenn Place Apartments

Centennial, Colo. (Nov. 28, 2018) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Southglenn Place Apartments, a 135-unit multifamily community located in Centennial, Colorado. 29SC plans to invest over $1.6 million in capital improvements. “Southglenn Place is a value-add property in a true Class A location,” said Jay Neal, 29SC’s Senior Vice President of Acquisitions in the Rocky Mountain area. “The Centennial submarket has limited apartment supply and high barriers to entry, which make it especially…

29th Street Capital Expands Phoenix Area Portfolio; Acquires Argenta Apartments

Mesa, Arizona (Nov. 15, 2018) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Argenta Apartments, a 396-unit multifamily community located in Mesa, Arizona. 29SC plans to invest over $3.2 million in capital improvements. Interiors will receive updated flooring, new black appliances and upgraded fixtures as well as plumbing and lighting packages. Cabinets will also be re-faced. Exterior improvements will focus on landscaping, A/C units and roof repairs. The new owner will add a dog park and…

29th Street Capital Expands Houston Area Portfolio; Acquires Cali Sommerall Apartments

Houston, Texas (Oct. 29, 2018) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Cali Sommerall Apartments, a 368-unit multifamily community located in the Copperfield/Bear Creek submarket of Houston. 29SC plans to invest over $2 million in capital improvements. Apartments will receive new granite countertops, a modern paint scheme, hardware and fixtures. New amenities will include a package locker delivery system, a dog park, fitness equipment and grilling stations. Renovations are planned for the clubhouse, leasing office,…