Capital Allocation Partners Successfully Sells Yardz on Colter
CAP recently finalized the sale of Yardz on Colter, a garden-style apartment complex located on 15th Ave and Camelback
Nathan Reid, managing director of Capital Allocation Partners said, "Capital Allocation Partners is always looking for ways to add value to properties and for new areas, which are gentrifying, to create value for tenants and LPs. Colter Gardens was a great success in a West side sub-market which we normally had stayed away from. We want to thank everyone involved in this transaction for helping us bring this property back to life"
Capital Allocation Partners purchased the asset as a joint venture partnership with Magenta DGM and Dennis Hope in 2018. The partnership performed a full rehabilitation on the asset that included new interior, exterior and common areas. In total, the 16-unit apartment complex received over $500,000 in improvements which significantly increased the property's value. Capital Allocation Partners continues to execute its value-add model in the Phoenix neighborhood with great success, having achieved a greater than 2x equity multiple on this specific project. It remains bullish on the overall commercial real estate market and multifamily sector market trends.
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 three real estate funds and is currently investing out multiple real estate funds. 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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