Tag: multifamily

Browsing Tag:multifamily

29th Street Capital Acquires Lake House at Martin’s Landing; Property is Firm’s 11th Atlanta-Area Acquisition

Roswell, Georgia (September 2020) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Lake House at Martin’s Landing, a Class B, 300-unit asset located in the North Fulton submarket of Atlanta. 29SC plans to add value to the property with light upgrades to 282 apartments that were previously improved by the seller plus full interior renovations on 18 classic units. The firm will also improve the exteriors and amenities. “This is 29SC’s third acquisition in Atlanta in…

29th Street Capital Weathers COVID-19, Capitalizes on New Opportunities

While re-thinking some of its 2020 strategies, 29th Street Capital (29SC) is bullish on the long-term prospects for the multifamily market. It is also looking for new acquisition opportunities in its existing markets, especially Phoenix, San Diego and Los Angeles. The firm, which has a national platform covering over 20 markets, ended Q1 2020 with 14 acquisitions, totaling 3,300 units, in eight cities for a total of $530 million in capital. It completed seven dispositions across six cities with an…

29th Street Capital Expands to Southern California; Richard Marshall to Source Multifamily Deals

San Diego, Calif. (September 2017) – Richard Marshall has joined 29th Street Capital as Acquisition Director for Southern California. Marshall 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. Marshall has over 14 years of real estate investment, development and asset management experience across a variety of asset types, including multifamily. Prior to joining 29th Street Capital, Marshall…

29th Street Capital Acquires First Sacramento Multifamily Property

Citrus Heights, Calif. (June 12, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Woodmore Manor Apartments, its first property in the greater Sacramento region. The multifamily community, located 15 miles northeast of downtown Sacramento, features one-, two- and three-bedroom units. 29SC has allocated approximately $1.3 million for capital improvements. Interior upgrades will include granite counter tops, stainless steel appliances, vinyl plank flooring, cabinetry and bathroom fixtures. Exterior renovations will focus on balcony…

29th Street Capital Acquires 2nd Student Housing Community at Texas State University

San Marcos, Texas (June 5, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Reserve at West Avenue, a 152-unit, 488-bed luxury student housing community near Texas State University (TSU) in San Marcos, Texas. 29SC’s strategy is to invest $1 million to significantly improve the unit interiors as well as the property’s exterior and amenity package. Interior renovations will include granite countertops, new flooring and improved plumbing fixtures. Exterior improvements will focus…

29th Street Capital Acquires 13th Bay Area Multifamily Property

San Leandro, Calif. (Apr. 11, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Panoramic and Miramar Apartments in San Leandro, California. The 79-unit community consists of two neighboring properties – Panoramic and Miramar – that sit side-by-side on Miramar Avenue and operate as one entity. It offers one- and two-bedroom units and is located immediately north of Hayward, where 29SC currently owns and operates five other multifamily communities. 29SC plans to strategically…

29th Street Capital Acquires 7th Phoenix-Area Property

Phoenix, Ariz. (January 23, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Standard Apartments, a 227-unit multifamily community in Tempe, Arizona. 29SC’s strategy is to invest $1.8 million into renovations to significantly upgrade the interiors and to enhance the exterior of the apartments. This is the seventh acquisition 29SC has made in the Phoenix/East Valley market in the past two years. “The Standard Apartments allows us to grow our presence in…

29th Street Capital Acquires 11th Bay Area Multifamily Property

Concord, Cal. (Jan. 13, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Twin Peaks Apartments in Concord, California. The 39-unit community is located in the East Bay submarket of the San Francisco Bay Area. Twin Peaks is comprised completely of two-bedroom townhome units and neighbors another multifamily property, Tradewinds Apartments, which 29SC acquired in October 2016. 29SC purchased the asset off-market through a prior relationship with the seller. The firm plans approximately…

29th Street Capital Acquires 2nd Florida Property

Jacksonville, Fla. (January 3, 2016) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired the Summer Oak Apartments Homes in Jacksonville, Florida. The new owner plans to rebrand the 400-unit riverfront multifamily community as “Pier 5350.” It also plans a $2 million renovation. “We are very happy to close on our second acquisition in Florida and have high expectations for this property and the overall Florida market,” said Bill McConaghy, 29SC’s Vice President of…

29th Street Capital Acquires 2nd Louisville Multifamily Property

Louisville, Ky. (January 3, 2017) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Willowbrook Apartment Homes, its second property in Louisville, Kentucky. The 120-unit multifamily community, located seven miles southeast of downtown Louisville in the West Buechel area near I-264 and Bardstown Road, offers a variety of floorplans, including one-, two- and three-bedroom units. “We are excited to close on our second Louisville property in less than three months and are very optimistic…