Houston, TX 2016 - ApexOne Investment Partners, a privately-held national multifamily investment firm and fund manager, is proud to announce its acquisition of
the Eastern Shore Portfolio of apartments in Alabama.
"We are excited to add three Gulf Coast assets to our growing portfolio," said Tim Burns, partner and head of acquisitions at ApexOne Investment Partners. "These assets allow us to continue our value-enhancement strategy and tap into new submarkets within the 12th fastest growing MSA in the nation. This portfolio is also an excellent compliment to our Pensacola properties only 35 miles away"
The Eastern Shore Portfolio consists of Summer Trace apartments, 104 units built in 1997 in Gulf Shores; Park Place apartments, 144 units built in 2001 in Foley; Windscape apartments, 72 units built 1984 in Daphne. All three assets are in the Mobile MSA, the 12th fastest growing metropolitan area in the nation.
An extensive property enhancement program on all three assets will begin shortly after closing foc
using on expanding and improving the community amenity packages as well as select unit upgrades. Upon completion of the capital program, all three assets will be held in portfolio. Balfour Beatty Communities has been selected for on-site management.