Capital Allocation Partners Acquires Arcadia-Lite Apartments

CAP has purchased the Baker's Apartments, a garden style apartment complex in Arcadia Lite located at 38th and Osborn.
PHOENIX - Jan. 4, 2018 - PRLog -- Capital Allocation Partners is pleased to announce the acquisition of Bakers Apartments, a 14-unit value-add multi-family apartment complex in the Arcadia neighborhood. The asset is prime for repositioning and will receive immediate tenant improvements and reimaging. The deal was brought to Capital Allocation Partners by Danny Lee of SVN, who represented the Seller.

Situated in the neighborhood now deemed as "Arcadia Lite", the project boasts 14 separate units that will undergo significant capital improvements. Capital Allocation Partners has completed numerous transactions in this neighborhood and feels this project will be just as popular as its Arcadia Edge apartment project, located only several hundred yards to the south of Bakers.

Managing Director, Nathan Reid shared his thoughts: "Capital Allocation Partners is excited to announce our 15th value add deal in the Phoenix area with the recent closing of Bakers Apartments in the Arcadia Lite neighborhood. We are currently finishing our reposition of Arcadia Edge on 39th and Earll and are excited to continue creating new, exciting spaces for renters to enjoy in this rapidly gentrifying area."

The project will be the first acquisition in Capital Allocation Partner's third fund, Arizona Opportunities Fund III. Thanks to the Company's due diligence and connection network in the general contractor and property management space, the Bakers Apartments project will receive immediate capital improvements. Capital Allocation Partners benefits from numerous competitive advantages, and has an appetite and available capital in Arizona Opportunities Fund III raised for additional projects.

About Capital Allocation Partners

Capital Allocation Partners ("CAP") was started in 2011 by Nathan Reid with the intent to invest in value-add multi-family real estate, medical office buildings and operating businesses. Since its inception, the Company has invested in 14 projects out of two real estate funds and is currently investing out of its third real estate fund, Arizona Opportunities Fund III. Additionally, the Company has two platform service businesses under its management. The Company focuses on purchasing value-add opportunities and re-positioning the asset to create shareholder value. The Company abides by a strict investment thesis to source and purchase each deal at a discounted rate to market and implements its investment plan to generate high returns for its shareholders. Capital Allocation Partners is focused on always putting its shareholder first and generating the highest return to its shareholder.

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Tags:Apartments, Commercial Real Estate, Redevelopment
Industry:Real Estate
Location:Phoenix - Arizona - United States
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