Birmingham, AL - Capstone Real Estate Investments, LLC (“CREI”) has closed on the sale of University Apartments in Chapel Hill, NC to an affiliate of Magma Equities. Management services will be assumed by Elmington based in Nashville, TN. The transaction closed on October 20, 2021 and this sale marks the fifth successful real estate transaction by CREI this year.
University Apartments, located within walking distance to The University of North Carolina at Chapel Hill campus, was originally acquired by Capstone in 2012. The 154-bedroom community offers students a renovated one-bedroom floor plan, in both a single and double occupancy configuration.
CREI is actively searching for acquisition opportunities. Interested in selling an asset near a major college or university? Contact John Baumhauer, VP of Acquisitions at CREI –email@example.com or 205.949.3849.
CREI is a Birmingham, Alabama based company that creates value by strategically acquiring, efficiently renovating, creatively repositioning, and aggressively managing properties that are in close proximity to major universities and that present opportunities for operational, physical and/or functional improvement. CREI currently owns and manages a portfolio of 22 properties with a combined bed count of 9,373.