Just Acquired: US$ 10 Million Multifamily Complex In Tallahassee, FL
FOR IMMEDIATE RELEASE
March 2nd, 2022
For additional inquiries please contact:
Abiel Ballesteros
VP, SAR Apartment Capital
1-786-355-6646
abiel@abielballesteros.com
SAR Apartment Capital purchased a student rental housing complex in Tallahassee, FL, which includes an adjacent lot ready for new construction
The property is comprised of 82 townhomes with a pool, clubhouse, and fitness gym, plus a 10.6-acre lot, located on the outskirts of the Tallahassee community college in northern Florida
Miami, Fl –
SAR Apartment Capital is proud to announce today the purchase of an 82-unit student housing complex to be repositioned as a multifamily rental community in the Tallahassee, Florida area for $10,000,000 US dollars.
Sar Apartment Capital and its partners identified the great potential for this acquisition given the pricing, strong demand for rental housing in the area, and the possibility of building additional units within the limits of the lot.
The community was originally built in 2008 to be sold as condominiums and has an approved plan in place for the construction of an additional 92 similar townhomes on site.
The adjacent 10.6 acres lot has an approved plan in place for new construction
Following our business plan, we project to turn the property into a rental community, and additionally, we plan to execute the original new construction project of similar townhouses, considering the built-to rent growing demand in Tallahassee.
We expect to repurpose the clubhouse as a leasing office, make changes to the kitchens, bathrooms, and flooring, and bring other items up to date.
With this new acquisition, SAR Apartment Capital and its partners deliver again on its promise to source, acquire and manage multi-family assets with high ROI potential for its investors.
Thanks
Abiel Ballesteros
VP, SAR Apartment Capital
SAR Apartment Capital is a Miami-based real estate investment and asset management firm specializing in multifamily apartment syndication, with over US $ $145 million in assets under management.
You’re receiving this email because you’re subscribed to my “Active Investor Newsletter”, which means you’re receiving content to help you find more deals and raise more money. If you’d like to stop receiving these emails, please unsubscribe here.
SAR Apartment Capital, 3001 W Hallandale Beach BLVD, Pembroke Park, FL 33009, United States