Houston, TX -- (ReleaseWire) -- 09/04/2018 --Alpha Capital Partners, a Pittsburgh area-based real estate investment firm, has acquired a 484-bed value-add property located in Kalamazoo, Michigan. This student housing community was built in 2001 and sits on 9.3 acres adjacent to Western Michigan University. This is a prime location for students, just steps to the entrance of the university and directly across the street from the Haworth College of Business.
Western Michigan University is the third ranked public university in Michigan with 70% of its over twenty thousand students living off-campus. The property has recently been restored and benefits from strong occupancy rates of 95%.
Jide Famuagun, CEO of Alpha Capital Partners, said "This acquisition is one we are all very excited about. The property's proximity to Western Michigan University (which has been designated one of America's 'Best National Universities' for the last 27 years) was very appealing to our team. We look forward to providing Western Michigan University students a great housing option as we add all the amenities and tenant experience that come with being an Alpha property".
This is the fourth asset acquired in Alpha Residential Growth Fund IV, a targeted $50M fund. ARG Fund IV will acquire and operate student housing and multifamily communities with the objective of creating value through Alpha Capital Partners' investment and operating process.
About Alpha Capital Partners
Alpha Capital Partners is a Pittsburgh -based real estate investment firm that acquires student-housing, multi-family and medical offices in secondary and tertiary markets. The company is the leader in the middle-market space and has delivered higher-than-expected margins and risk-adjusted returns. Alpha Capital Partners is continuously growing its portfolio and currently owns 24 properties in growth markets across the United States.
For additional information, visit http://www.alphacapitalpartners.com.
Contact for Alpha Capital Partners
Investor Relations: Aly McCaffrey
Media: Lola Soyebo Harris