PITTSBURGH, Sept. 04, 2020 (GLOBE NEWSWIRE) -- Alpha Capital Partners (“Alpha”) announces the acquisition of a 282-unit multifamily building located at 541 Great Circle Road in the heart of downtown Nashville, Tennessee. Alpha Capital Partners, a privately-held Pittsburgh-based real estate investment firm, is a leading middle-market vertically integrated, technology-enabled, private equity real estate investment firm.
The team plans to rebrand Accent Glassworks and rename the property as Apex Glassworks, under the Alpha sub-brand for newly developed communities. The property is still under construction and scheduled to be completed by November 2020. Despite the current pandemic, pre-leasing efforts have been successful and currently meet occupancy targets. Apex Glassworks is a 4-story, multifamily property across two buildings. Each building has a horseshoe shape and features studio, 1-bedroom, and 2-bedroom floorplans, maximizing natural light and floor plan efficiency. Parking is available via surface spots surrounding both buildings. “Alpha has expertise in the Tennessee market and this acquisition marks our 9th property in the state which gives us the experience needed to be successful in a competitive real estate market,” says Bill Palmer, Director of Acquisitions at Alpha Capital Partners.
The well-positioned property exhibits luxury at its finest and features contemporary amenities for residents who want to live in the heart of downtown Nashville. Located in the Metrocenter office park area, residents will have easy access to the Gulch, great shopping, and restaurants that fit their lifestyle.
Nashville has exhibited significant local economic growth over the past cycle, which has increased demand for housing for area employers such as Amazon, Pilot, and Western Express. "This opportunity resulted directly from our experience in the market, and we are excited to welcome Apex Glassworks to the Alpha Capital Partners family. I believe that this property will fill a housing demand that is needed as major corporations begin to employ professionals in the Nashville area," says Jide Famuagun, CEO of Alpha Capital Partners.
Apex Glassworks will be managed by Pegasus Residential, a national leader in the management of multifamily housing.
About Alpha Capital Partners
Alpha Capital Partners is a vertically-integrated real estate investment firm with in-house construction and property management teams that acquires, develops, and manages student housing and multifamily properties in secondary and tertiary markets. The firm’s mission is to champion prosperity for its investors, employees, and residents through innovation. The firm currently owns 30+ properties in strategic growth markets, including opportunity zone markets. As of April 30, 2020, the firm managed approximately $400 million in assets on behalf of investors. For additional information, please visit www.alphacapitalpartners.com.
Contact
Investor Relations: Modele Segun 412-212-0665
Media Relations: Lola Soyebo Harris 832-241-5630
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