Capstone is pleased to present our 2023 market report covering Greenville and Spartanburg, South Carolina. This comprehensive report delves into the region's employment trends, economic development, multifamily data, and essential metrics shaping these markets. For more information, please contact a member of our Carolinas team: Ron Corrao Eric Liebich Josh Greenwald Scott Fuller Matt...
Capstone Investment Sales Advisor, Colton Yasinski, was featured in the latest issue of Western Real Estate Business Magazine, for their Idaho Market spotlight. Colton’s insightful article, titled “The Flourishing Idaho Multifamily Market Touts Growth, Shifting Dynamics, Resilience” delves into the dynamic landscape of Boise’s multifamily real estate market. Throughout the article, Colton’s...
BOWLING GREEN, KY — Capstone Companies has successfully brokered the $8.9M off-market sale of Red Rock Place Apartments: a 60-unit garden style multifamily apartment community constructed in 2017 and located in Bowling Green, Kentucky. Capstone Investment Sales Advisor, Jordan Arand, led the transaction team along with Capstone Partner, Adam Klenk, Senior Advisor, Austin Heithcock, and Investment...
NASHVILLE, TN—Capstone Companies has brokered the sale of a multifamily land project in Nashville, TN. The 2.4-acre site is located at 2400 Clarksville Pike and has an existing building with a NNN lease in place and multiple sources of income. There are five years left on the lease. Capstone Investment Sales Advisor, Jordan Arand, facilitated the off-market sale, representing the seller, J Word...
DENVER, CO MSA: Capstone has closed the sale of 4001-4065 Upham St, a portfolio of three adjacent multifamily properties in Wheat Ridge for the sale price of $12,100,000. Christian Burgdorf & Austin Smith of Capstone brokered the transaction. Local firm, Renegade Capital, purchased the properties from a local family that had owned the buildings since construction. The buildings were constructed in...
FARGO, ND: Capstone has brokered the sale of U32, a Class A, 234-unit multifamily property in Fargo, ND. Kevin Phelan and Josh Benard of Capstone brokered the transaction. U32 is conveniently located on the north side of Fargo. It’s a quick drive to Interstate 29 and is in close proximity to Hector International Airport and North Dakota State University, making this property attractive to a diverse...
The tides of change and opportunity are ever-present in the multi-family housing realm, as highlighted by recent headlines. The luxury apartment market has proven resilient, countering demand fluctuations with stability and evolution. With nearly 200,000 new units entering the market in H1 2023, this niche is witnessing a balancing act between demand and supply, offering a glimpse into the multifaceted...
TULSA, OK — Capstone Companies has successfully facilitated the $3,100,000 sale of Coliseum Apartments, a Class A, 36-unit luxury walk-up-style apartment building in Tulsa, Oklahoma. The property, built in 1925 and renovated in 2015, has been in the heart of Tulsa for over 98 years and encompasses a fusion of modern urban living with the practicality of an unbeatable location and upscale...
Rent growth has decelerated below 1%, though stabilizing occupancy rates and increased consumer confidence bolster the market's resilience. The Federal Reserve’s insights anticipate a slowdown in rental housing costs due to an influx of new apartments, aiding inflation management efforts. Adaptive reuse is reinvigorating urban cores, with a surge of 122,000 rental apartments undergoing transformation,...
In the current economic landscape, multi-family investors are grappling with tightening credit standards and weaker loan demand due to the Federal Reserve's interest-rate hike campaign. These trends will likely persist throughout 2023 as banks foresee further tightening lending standards. While these credit conditions raise concerns about a potential economic slowdown, the multi-family market remains...
WICHITA, KS — Capstone Companies has successfully facilitated the $24.25M sale of Fox Run in Wichita, Kansas. The garden-style community was constructed in 1978 and is comprised of 336 units across 15.81 acres. Fox Run has a mix of studio, one-, and two-bedroom floorplans as well as a robust amenity package. Previous ownership had been in place for many years prior to the sale, resulting in Fox Run being...
OKLAHOMA CITY, OK — Capstone Companies has successfully facilitated the $16,250,000 sale of Almonte Apartments, a 288-unit garden-style apartment community in Oklahoma City, OK. The property, built in 1983, has been extremely well-maintained and recently underwent significant capital expenditures. Previous ownership had been in place at Almonte for over 17 years prior to the sale. The Capstone...
