OMAHA, NE - Burlington Capital announced today that it has purchased The Abbington at Stones River, a 96-unit property located in Murfreesboro, TN.
The Abbington sits on approximately 6.8 acres and contains six individual two-story apartment buildings with 8 one-bedroom units, 56 two-bedroom units, and 32 three-bedroom units. The Abbington is situated in a quiet neighborhood with easy access to major employers, major highways, Middle Tennessee State University, many restaurants and convenient shopping. The Abbington features a one-story clubhouse with leasing office, common area, laundry facility, and storage rooms for maintenance. Other amenities include a swimming pool, playground and picnic area.
Purchased from the Foundation for Affordable Housing, a non-profit 501(c)(3) entity, Burlington Capital plans a rehabilitation of the exterior buildings and grounds, as well as the interior of the units to extend its useful life and preserve the affordable housing in the area. A subsidiary of Burlington Capital, Burlington Capital Properties, will manage the property. “Maintaining the affordability and quality of housing in growing communities is essential” says Kevin McKeon, President of Burlington Capital Properties, “we are proud to provide high quality housing our residents deserve at prices they can afford.”
Founded in 1984, Burlington Capital is a diverse investment management firm that creates and pursues innovative business ventures through its experience, knowledge and relationships in the areas of real estate, international agribusiness and financial services. Burlington Capital has served as the general partner for 17 public limited partnerships and five private partnerships and has raised, financed and managed total assets of nearly $7 billion and served more than 100,000 investors.
For more information about Burlington Capital, please visit burlingtoncapital.com