Pensacola, FL, 2015 - ApexOne Investment Partners, a privately-held national multifamily investment firm and fund manager, is proud to announce its acquisition of
the Arbor Club and Ashley Club apartments in Pensacola, Florida.
"We are thrilled to be able to acquire two well-located assets in the growing Pensacola market, said Tim Burns, partner and head of acquisitions at ApexOne. "Both assets have a proven value-enhancement component and we believe continuing the program will take the assets to the next level of success."
Arbor Club and Ashley Club were both developed in 1986. Combined, the assets consist of 392 one and two bedroom floor plans ranging from 690 square feet to 1010 square feet. Amenities include clubhouse, swimming pool, private storage units and a heavily wooded park-like setting. Unit features include fireplaces, washer-dryer connections, cathedral ceilings, walk-in closets and private screened-in patios or balconies.
An extensive property enhancement program will begin shortly after closing foc
using on expanding and improving the community amenity package as well as additional unit upgrades. Upon completion of the capital program, Arbor Club and Ashley Club will be held in portfolio. Balfour Beatty Communities has been selected for on-site management.