Florence, AL Portfolio

Capstone Apartment Partners is pleased to present 578 units located throughout 20 unique properties in the growing town of Florence, Alabama. Consisting of a variety of unit types and sizes spread across the town, new owners will have the opportunity to acquire a sizable share of Florence’s rental market and increase low-performing properties to market rents. Home to the University of North Alabama, which has seen record enrollment for the 14th consecutive term, Florence has seen growth and success reflected back into its community. The Florence AL portfolio offers new owners the opportunity to increase revenue on a variety of assets and invest in a growing community.

Investment Highlights

• Strong opportunity to increase revenue on underperforming properties
• Due to previous mismanagement, a vast majority of the 578 units are being rented for $250-$300 under market rents
• New owners will be able to take advantage of this organic loss to lease recapture opportunity
• Located minutes from the University of North Alabama
• Florence has been built around the University of North Alabama, which has been consistently growing and increasing its student size for the past 14 terms. Most recently, UNA has seen a 12% rate of growth from Fall of 2021