Capital Allocation Sells Tempe Revival Apartments, Nears Fund II Closing

CAP recently finalized the sale of Tempe Revival, a garden-style apartment complex located in the heart of Tempe.
PHOENIX - March 12, 2018 - PRLog -- Capital Allocation Partners is pleased to announce the sale of Tempe Revival, which it had acquired in Q3 2016 and repositioned in the booming North Tempe community. The sale moves CAP closer to closing Arizona Opportunities Fund II and distributing returns back to its Limited Partners.
Managing Director, Nathan Reid shared his thoughts: "Capital Allocation Partners managed fund, Arizona Opportunities Fund II, LLC is pleased to announce the sale of Revival Tempe Townhomes. When we purchased this deal in August of 2016 we saw an opportunity to create an upscale community in a main and main location in Tempe. This is our 7th deal with Cal, Frank and Rod Desouza and every deal is easier than the last, we couldn't be more happy with our loose partnership to reposition multi family and medical office deals together, we hope to have the opportunity to do more in the future. We also would like to thank Rich Butler at Marcus and Millichap for brokering the transaction."
Mr. Reid also went on to say "While many of our competitors are focused on fees for themselves, capturing transaction costs and brokerage commissions and generally raiding real estate deals with fees, Capital Allocation Partners is focused on the IRR to our investors and have been compounding the Investor Capital in Fund II at approximately 35% IRR, net to investors, for 6 years now, a 460% total return. We want to thank all of our Investors for allowing us to manage a portion of their money in our real estate ventures and for the freedom and support they provide for us to operate"

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Tags:Real Estate, Finance, Multi-family
Industry:Real Estate
Location:Phoenix - Arizona - United States
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