CREI COMPLETES PURCHASE OF STILLWATER FLATS


Birmingham, AL – Capstone Real Estate Investments, LLC (“CREI”) has closed on the acquisition of Stillwater Flats, an off-campus student housing community located within close proximity of the Oklahoma State University campus. This purchase aligns with the company’s goal to expand its national footprint and is the first CREI project located within the state of Oklahoma.

Completed in 2009, this mid-rise student community offers fully furnished floor plans in efficiency, 1-, 2- and 4-bedroom configurations. On-site amenities include a private parking garage with space for each resident and a swimming pool with sundeck. Located three blocks from Boone Pickens Stadium, and only 0.5 miles from the center of the OSU campus, residents can easily walk to class and popular Stillwater venues. With these attributes in mind, along with an unmet demand for condominiums close to campus, CREI has identified a unique opportunity to convert the form of ownership from an apartment community into a condominium community. Units will become available for purchase in the coming weeks through a partnership with Keller Williams Realty Local.

“The entire CREI team is excited to expand our presence into the state of Oklahoma. Being an internally capitalized and a vertically integrated organization, CREI can acquire, renovate, and reposition communities in a variety of capacities. The Stillwater Flats condominium conversion clearly represents this competitive advantage and early indications show that there is a high level of interest from a variety of prospective buyers.” -Christopher Mouron, Executive Vice President – Acquisitions & Development / Principal.

Learn more about Stillwater Flats by visiting www.StillwaterFlats.com. If you are interested in purchasing a Stillwater Flats condo, contact Denise Talley or Kristyn Morris of Keller Williams Realty Local at StillwaterCondo@creimail.com

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 – jbaumhauer@creimail.com or205.949.3849.