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Situated in the neighborhood now deemed as "Midtown Phoenix", the project boasts 16 separate units that will undergo significant capital improvements. As mentioned, this is Capital Allocation Partners second transaction in as many weeks in this corridor and CAP is excited for the opportunity to contribute to the gentrification of the neighborhood. The Project will see multiple units converted from 1 bedroom to 2 bedroom units as the layout allows. Several first floor units will also receive their own patio and courtyards. Capital Allocation Partners has been eyeing the Midtown Phoenix neighborhood for over a year and the Mariposa on 5th and Colter Gardens acquisitions were the perfect transactions for the Company, now investing out of its 3rd Real Estate Fund.
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Managing Director, Nathan Reid shared his thoughts: "We believe the Central and Camelback area is one of the best areas in all of Phoenix to redevelop properties. Mariposa is a very unique, well located and an overall beautiful apartment complex that CAP is excited to renew and refresh for our amazing tenant base. CAP is excited to do a unique remodel at Mariposa on 5th that showcases the amazing "bones" this property already has."
The project is the third acquisition in Capital Allocation Partner's third Fund, Arizona Opportunities Fund III. Thanks to the Company's due diligence and connection network in the general contractor and property management space, the Mariposa on 5th project will receive immediate capital improvements. Capital Allocation Partners benefits from numerous competitive advantages and has an appetite and available capital in Arizona Opportunities Fund III raised for additional projects.
About Capital Allocation Partners
Capital Allocation Partners ("CAP") was started in 2011 by Nathan Reid with the intent to invest in value-add multi-family real estate, medical office buildings and operating businesses. Since its inception, the Company has invested in 14 projects out of two real estate funds and is currently investing out of its third real estate fund, Arizona Opportunities Fund III. Additionally, the Company has two platform service businesses under its management. The Company focuses on purchasing value-add opportunities and re-positioning the asset to create shareholder value. The Company abides by a strict investment thesis to source and purchase each deal at a discounted rate to market and implements its investment plan to generate high returns for its shareholders. Capital Allocation Partners is focused on always putting its shareholder first and generating the highest return to its shareholder.
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If you would like more information about this topic, please visit Https://www.capitalallocationpartners.com
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