Capital Allocation Partners Acquires Tempe Decco 109 Apartments in JV with B&R Capital
CAP adds to Portfolio with the JV Acquisition of the Decco 109 Apartments in the robust Tempe/ASU Neighborhoods.
Situated off Mill Avenue, close to the ASU Tempe campus, the Project boasts two-bedroom apartment units that will undergo significant capital improvements and better management. The Project will undergo several improvements that make the overall Decco 109 community more inviting to its tenants while maintaining its strong current layout. Capital Allocation Partners has been aiming to re-enter the city of Tempe since its sale of Tempe Revival and B&R Capital is the perfect partner for the joint venture.
Managing Director, Nathan Reid shared his thoughts: "Capital Allocation Partners Fund IV is excited to announce the recent acquisition of Decco 109 in the very strong rental sub-market of Tempe. We have plans to convert Decco to an individually metered property and to generally improve the quality of the Asset to match the strong rental demand in the area."
The Project is one of the first acquisitions in Capital Allocation Partner's Fourth Fund, Arizona Opportunities Fund IV. Thanks to the Company's due diligence and connection network in the general contractor and property management space, the Decco 109 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 IV 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 18 projects out of four real estate funds and is currently investing out of its third and fourth real estate funds, Arizona Opportunities Fund III and IV. 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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Page Updated Last on: Nov 15, 2018