Capstone Real Estate Investments, LLC (“CREI”) has closed on the acquisition of Colony Club Apartments in Tallahassee, FL. Located just 0.1 miles from Florida State University, Colony Club consists of 169 1-, 2- and 3- bedroom units within walking distance to campus and local shopping, dining, and entertainment.
Along with Colony Club, CREI has also acquired High Point Apartments, a 151 unit community consisting of one bedroom apartments. Renovations are scheduled to begin this fall with an expected completion date of Fall 2017. CREI will be completing much needed interior improvements including paint, flooring, and fixtures as well as adding in-unit washer/dryers and updating the pool deck.
The acquisition of Colony Club and High Point is a continuation of CREI’s mission to acquire well-located assets proximate to major colleges and universities across the United States. Formed in 2012, CREI currently owns/manages a diverse portfolio of 23 properties constituting 7,946 beds. As an active acquirer, we encourage anyone interested in selling an asset near a major college or university to contact Jeff Taylor, Vice President of Acquisitions at email@example.com or 205-949-2073.