Tag: Multifamily Real Estate

Browsing Tag:Multifamily Real Estate

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 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,…

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 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 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…