Capstone Real Estate Investments LLC (“CREI”) is pleased to announce that they have closed on the sale of 446 Conradi Street in Tallahassee, FL to a national student housing operator.
CREI purchased 446 Conradi (formerly known as Colony Club Apartments) in summer 2016. The purchase also Included High Point Apartments – located at 411 Chapel Drive.
High Point’s proximity to Florida State University’s campus and one bedroom unit mix presented CREI an attractive opportunity to increase its footprint in the Tallahassee market while diversifying their unit mix. CREI elected to exclude High Point from the sale – instead choosing to begin renovations immediately and rebrand the community.
This spring CREI rebranded High Point under the name of its sister community – Legacy Student Living. Renovations will be completed by August 2017 and Include the replacement of building railings, installation of cedar screens on exterior stairwells, resurfacing and striping the parking lot as well as installing new exterior building lights, keyless locks, landscaping, pool furniture, unit and property signage. Interior upgrades Include new flooring, fixtures, counter tops, cabinets and appliances as well as the addition of in-unit washer/dryers.
For more information about these renovations and to view photos, please visit www.legacystudenthousing.com.