CAPSTONE REAL ESTATE INVESTMENTS, LLC

FOCUSES ON ACQUIRING AND REPOSITIONING STRATEGICALLY LOCATED, OFF-CAMPUS APARTMENT COMMUNITIES, WHICH ARE PHYSICALLY AND/OR OPERATIONALLY UNDER-PERFORMING.

Through the use of a value-add renovation program and Capstone’s operating expertise, we reposition these properties as attractive, student housing communities. During the process, we look for opportunities to create a more competitive and valuable asset by implementing a host of physical and operational improvements that contribute to a more inviting and vibrant living environment. These improvements often include updated unit interiors, the introduction of new unit and common area amenities, increased unit and building efficiency, and the use of a focused marketing and management strategy that targets students.

An attractive option we offer our university partners is the priority use of the renovated community without university financial or operational commitments. This is another example of Capstone’s innovative approach to addressing the housing needs of our university partners.

Since 2007, we have completed 23 acquisition/reposition projects and currently have an additional four in various stages of renovation. These projects constitute over $400 million in value and have employed a variety of financial structures including the use of conventional debt and equity, mezzanine financing, and tax-exempt bonds. To match a growing potential for this business, we continue to devote additional resources to sourcing and executing future opportunities.

Recent examples of Capstone Real Estate Investments’ activities include the acquisition and repositioning of Eagle Flatts (Hattiesburg, Miss.) and University Park (Greenville, N.C.). In January of 2016, Capstone Real Estate Investments made Student Housing Business magazine’s list of Top 25 Owners and Managers. In 2011, University Apartments was awarded a prestigious Multifamily Executive (MFE) Award in the category of “Apartment Renovations.”