Capstone Real Estate Investments, LLC (CREI) is pleased to announce the acquisition of a portion of The Hangout Starkville, a student housing community located in Starkville, Mississippi. The purchase includes 60 units across the five northernmost buildings of the property, which are immediately adjacent to Mississippi State University (MSU).
With this acquisition, CREI will execute a significant renovation and repositioning of the newly acquired buildings, converting them from student housing to for-sale condominiums. This transition will introduce 60 new condominium units to the Starkville condominium market while removing 240 bedrooms from the Starkville student housing market.
As part of the redevelopment, CREI will implement a comprehensive renovation plan that includes the construction of a new property entrance connecting the property directly to Wingo Way and the adjacent pedestrian access to the MSU campus.
The rebranded property, to be known as Five Points Starkville, will feature upgraded exteriors, enhanced landscaping, new amenities, and fully renovated interiors. Each unit will be transformed from a 4-bedroom / 4-bath student configuration into a more desirable 3-bedroom / 3.5-bath layout with a newly created primary suite. Planned interior improvements include new flooring, modern kitchen countertops, updated appliances, and upgraded plumbing and lighting fixtures—effectively delivering a like-new condominium product in a prime location adjacent to MSU.
CREI is excited to announce that the first phase of the development—comprising three buildings and 36 of the 60 total units—has already been fully reserved for purchase. The second phase of units will be released later this year.
We are proud to close on this acquisition and look forward to the successful transformation of Five Points Starkville into a vibrant, high-quality residential community.
