World News: 13:00 GMT Tuesday 14th January 2020. [Fifty Mission Capital, LLC via Globe Newswire via SPi World News]
Scottsdale, Arizona, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Fifty Mission Capital and its founding principals, Jared Black of Black Law Group PLLC and Peter Anadranistakis of O2.Capital, have announced that they have completed the acquisition of their second apartment community in their home state of Arizona in the Midtown Phoenix district. Midtown Flats is a 122-unit apartment community that is situated in the up-and-coming Midtown Phoenix district where over one billion dollars ($1bn) in residential, multi-family, commercial, and hospitality development is planned. Fifty Mission Capital is the general partner of an existing portfolio of apartment communities across core Texas markets – including Dallas, Austin and Amarillo. With this acquisition, Fifty Mission Capital now manages and controls 14 apartment communities and over 1100 units.
Fifty Mission Capital continues to grow its real estate investment management practice, focused primarily on multifamily communities in strategic Southwest markets. Fifty Mission Capital is a vertically integrated real-estate investment management firm where the private placement activity including underwriting, due diligence, asset management, and legal work is all done in-house. With their expanding team of professionals, Fifty Mission Capital is focused on bringing in great people and partners to maximize value.
In addition to the Midtown Flats acquisition pushing the Fifty Mission Capital platform over the 1,100-unit mark, Fifty Mission Capital announced that its asset base under management has exceeded $125 Million in residential real estate, which is another significant milestone in apartment community ownership.
Todd Altomare, President of O2 Capital said, “We are pleased with our ongoing expansion strategy, ownership and asset management of apartment communities in Texas and Arizona. Our 2020 Plan is to increase our ownership in these markets and own 20 apartment communities by the end of 2020 with approximately 2000 doors and $200MM in real property.”
For further questions, reach out to Eva Koehne at . This is not an investment solicitation and should be not construed as such.
Globe Newswire: 13:00 GMT Tuesday 14th January 2020
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