Renaissance at Capital Circle

Renaissance at Capital Circle

Tallahassee, FL
Available
  • Property Type: Apartments
  • Year Built : 1975
  • Property Size: 145,800 SF / 168 Units

Overview

Capstone Apartment Partners is proud to present Renaissance at Capital Circle: a 168-unit community centrally located in Tallahassee, FL. The property, constructed in 1975, is comprised of fully renovated one-, two-, and three-bedroom units.  Ownership has invested approximately $7.9 million in exterior and interior capital improvements. In addition to major aesthetic improvements, ownership invested heavily in key deferred maintenance items, including electrical wiring, plumbing, roofs, and windows—further extending the useful life of the asset.  A new owner will have the opportunity to capture revenue upside by raising rents in line with the immediate competitors and offering washer/dryer connections across all units, which is standard for the market.

Renaissance at Capital Circle offers a unique post-renovation investment opportunity with operational upside, in a market that has seen year-over-year rent growth of 11.7%.  

Investment Highlights

  • Centrally Located to key demand drivers
  • Opportunity to Acquire a Turn-Key Asset
  • Ability to Immediately Raise Rents Commensurate With Rental Competitors

Contact Information

Jad Richa Managing Director P: 727.282.5547
O: 800.261.9464 ext. 703
jad@capstone-companies.com
Tom Huffsmith Investment Sales Advisor P: 321.418.5224
O: 800.261.9464 ext. 706
tom@capstone-companies.com
Brian Hunsicker Senior Advisor P: 727.631.5870
O: 800.261.9464 ext. 700
h.brian@capstone-companies.com
Nasser Al-Hafi Investment Sales Advisor P: 407.284.7071
O: 800.261.9464 ext. 719
nasser@capstone-companies.com
Cameron Hooper Investment Sales Advisor P: 904.923.5878
O: 800.746.3175 ext. 781
chooper@capstone-companies.com
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