WASHINGTON, DC - Militello Capital, a greater Washington, DC private equity firm, announced that it recently exited two multifamily properties. The properties were acquired through QRM Capital, a joint venture between Militello Capital and QR Capital.
The properties sold include Hillwood Pointe Apartments in Nashville, Tennessee for $23.4 million and Hampton Oaks Apartments in North Charleston, South Carolina for $12.7 million.
Hillwood Pointe Apartments, a 180-unit multifamily apartment community located in Nashville, Tennessee, was purchased in June 2014 for $14,850,000. Hillwood Pointe was built in 1997 and consists of one, two and three bedroom units.
Hampton Oaks Apartments, a 160-unit apartment community located in North Charleston, South Carolina, was purchased in December 2014 for $8,480,000. Hampton Oaks was built in 1972 and consists of one and two bedroom units.
“We are extremely proud of the results of these two investments,” says Matt Brady, Co-Founder and Chief Operating Officer of Militello Capital. “It is very gratifying to deliver such value to our investors and the financial advisors that placed their trust and confidence in us when making these investments.”
Militello Capital is a private equity firm founded by Advisors for Advisors. We provide educational tools, technology and investments in the real economy to elevate Advisors' businesses and modernize their clients' portfolios.
Source: Militello Capital / #Apartments #Multifamily