Chicago, IL. – Milos Kozomora has joined 29th Street Capital as the Vice President of Asset Management. Kozomora will oversee the firm’s asset management efforts across its entire portfolio. 

“With a significant background in asset management and operations, Milos is a valuable addition to our team and will provide additional oversight on our multifamily and student housing assets,” said Robb Bollhoffer, Managing Principal of 29SC.

Kozomora has more than 10 years of experience in multifamily real estate, with specific concentrations in development, asset management and brokerage. During his most recent position as Senior Analyst at Akara Partners, he worked on developing the firm’s Active Adult investment strategy, as well as the underwriting and capitalization efforts of several ground-up development deals. He was also responsible for building out and overseeing the firm’s asset management platform. Prior to joining Akara, Kozomora served as the President and Managing Broker of a full service residential real estate brokerage firm in Chicago.

“Technology in the real estate space has come a long way and I’m excited to work with the team to implement and leverage some of that technology to drive value across the portfolio,” Kozomora stated. “The 29th Street team is so good at what they do, I am hoping that the implementation of these tools will help take us to the next level and allow the team to focus on what they do best: finding great deals and executing their respective strategies to continue to provide great returns for our investors.” 

Kozomora earned his MBA from Northwestern University Kellogg School of Management with a major in Finance and a concentration in Real Estate. He has a BSBA from the University of Denver with a major in Finance and minors in Economics and Accounting. Kozomora continues to hold a Managing Broker license in Illinois.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that fall below the radar of institutional peers. 29SC’s multifamily portfolio consists of over 9,800 units and it has acquired over 17,000 units across its 15 offices in the U.S. Investments typically require approximately $10 to $100 million of total capital and involve the acquisition or recapitalization of real estate assets, portfolios or platforms. 

Learn more about 29SC at www.29thstreetcapital.com.

Houston, Texas – 29th Street Capital (29SC), a privately-held real estate operator, has acquired 14220 at Park Row Apartments, a 1998 vintage, 318-unit multifamily community located in West Houston. 29SC plans to re-brand the property and implement a smart technology upgrade program. 

“We are excited to add this asset to our Houston portfolio,” said Doug Burt, Vice President of Acquisitions in Houston. “The property will benefit from continued employment growth in the energy sector and lack of new supply coming to the submarket.”

14220 at Park Row Apartments is located just off of I-10 along the Houston Energy Corridor. The corridor is now estimated to be the second-largest employment center in the Houston metropolitan area. It is home to over 300 companies, 107,000 employees and 27.1 million square feet of office space that is expected to reach 45.2 million square feet by 2030.

“The Energy Corridor took a hit a couple of years ago as the oil markets compressed,” Burt added. “With the market recovering and the area gaining those jobs back, we feel the submarket is poised for continued economic expansion.” 

This is the tenth acquisition in the Houston area in the past five years. The transaction closed September 24th. The sale price and seller were not disclosed.

Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Over the past 12 months 29th Street Capital has also acquired 18 conventional multifamily assets and continues to actively pursue additional opportunities throughout the U.S. 

29SC’s conventional multifamily portfolio currently consists of more than 8,700 units having acquired over 15,800 units across its 15 offices in the U.S. Investments typically require approximately $10 million to $100 million of total capital and involve the acquisition or recapitalization of individual real estate assets, portfolios or platforms. 

Learn more about 29SC at https://29thstreetcapital.com.

Aurora, Colo. – 29th Street Capital (29SC), a privately-held real estate operator, has acquired The Carson Apartments, a 201-unit multifamily community located in Aurora, Colorado. 29SC plans to invest over $1.7 million in capital improvements. Interior upgrades will include updated flooring, cabinetry and countertops, modern gray paint scheme, black appliances and the addition of washer/dryers in two-bedroom units. Exterior renovations will focus on landscaping upgrades, window replacements, exterior paint, signage and rebranding.

“The Carson is approximately 100 yards from the Florida light rail station,” said Jay Neal, 29SC’s Senior Vice President of Acquisitions in the Rocky Mountain area. “Residents will have direct access and an easy train commute to major employers at the Denver Tech Center, the Fitzsimons Medical complex and Denver International Airport.”

The city of Aurora has experienced an incredible resurgence as $290 million in development capital entered the city in 2017, spurring employment growth to 2.8% and improving the forecasted 10-year employment growth to 42.5%, beating the national average of 33.5%. 

“Denver is still one of the fastest growing metropolitan areas in the nation,” Neal added. “The population influx is leading to the cost of homes increasing exponentially, so we are excited to implement our improvements and offer a high-quality, yet still affordable renting option.” 

The Denver metro area continues to be a premier destination for educated millennials, as population growth in the 25- to 34-year-old cohort continues to grow at nearly 2% annually, triple the national average. Job growth is expected to surpass 2% in 2019 for the ninth consecutive year as Denver employers add 36,000 new workers to payrolls.

The transaction closed June 14. The sale price and seller were not disclosed.

Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Over the past 12 months, 29th Street Capital has also acquired 17 conventional multifamily assets and continues to actively pursue additional opportunities throughout the U.S. 

29SC’s conventional multifamily portfolio currently consists of more than 9,000 units having acquired over 15,600 units across its 14 offices in the U.S. Investments typically require approximately $10 million to $100 million of total capital and involve the acquisition or recapitalization of individual real estate assets, portfolios or platforms. Learn more about 29SC at https://29thstreetcapital.com.

Atlanta, Ga. – Stonemark Management is now managing Cumberland Crossing Apartments, in Marietta, Ga. 29th Street Capital, which recently acquired the 286-unit property, appointed Stonemark to manage and lease the community.  Stonemark will also oversee a capital program to renovate the interiors, upgrade the amenities and enhance curb appeal.

“We’ve managed several communities for 29SC, and are pleased they’ve entrusted us with Cumberland Crossing as well,” said Stonemark President Walt Lamperski. “We believe that our track record in managing upgrades – while negotiating with vendors for maximum savings – will enhance 29SC’s investment in the property reach its potential. 

The quiet, gated, pet-friendly community has one-, two-, three- and four-bedroom apartments. It is located in fast-growing Marietta near several major employers, SunTrust Park, upscale shopping options and area universities. Amenities include a pool, fitness center, business center, clubhouse, sauna, tennis court and playground. Apartments have fireplaces, full kitchens, patios or balconies, large closets and more. 

“We are excited to continue to grow our partnership with Stonemark in Atlanta, ” said Javier Bustillo, Senior VP for 29th Street Capital. “They have outperformed expectations for us consistently and we look forward to another successful transaction.”

Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Learn more about 29SC at 29thstreetcapital.com.

The Stonemark Group focuses on the acquisition, financing, ownership, management and disposition of multifamily real estate investments in the Southeastern U.S. and Texas. The group includes Atlanta-based Stonemark Equities and Stonemark Management. For more information, visit stonemarkmanagementllc.com.

Avondale, Arizona – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Las Casitas Apartments, a 168-unit multifamily community located in Avondale, Arizona. This will be the firm’s 13th acquisition, for a total of more than 2,500 units, in the Phoenix market. 29SC plans to invest over $2.1 million in capital improvements. Interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes. Exterior renovations will focus on enhancing the dog park, clubhouse, pool area and other amenities while also addressing deferred maintenance.

“Las Casitas offers residents easy access to downtown Phoenix and the greater West Valley via Interstate 10, while the Loop 202 expansion is expected to increase access to the East Valley,” said Dusty Eddy, 29SC’s Senior Vice President of Acquisitions in the Southwest. “Population growth within three miles is forecast to exceed 7.7% for the next five years as employment opportunities flood the area.”

The Phoenix metro area ranks as the number one market for rental growth rates at 8% year-over-year, according to RealPage Analytics. The market is supported by strong fundamentals including a robust 95.4% occupancy rate due to strong net absorption and a job growth rate of 3.8%, which is well above the national average. It is estimated that the Phoenix market requires nearly 12,000 new housing units annually through 2030 to keep up with demand.

“Technology firms and other companies are steadily relocating to the Phoenix area,” Eddy added. “The region is experiencing profound economic growth as these employers build regional campuses and continue to expand into the market.”  

Las Casitas is within walking distance of public elementary and middle schools and less than two miles from the high school. The I-10 freeway gives easy access to downtown Phoenix, several regional hospitals and an Amazon fulfillment center. Less than a 15-minute drive from the property is Luke Air Force Base, which employs 5,900 people and has a $2.4 billion impact on the state. Nearby industrial and data centers employ 35,000 people; planned expansions are expected to add more jobs as well. 

The transaction closed June 13. The sale price and seller were not disclosed.

Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Over the past 12 months 29th Street Capital has also acquired 16 conventional multifamily assets and continues to actively pursue additional opportunities throughout the U.S. 

29SC’s conventional multifamily portfolio currently consists of more than 8,800 units having acquired over 15,400 units across its 14 offices in the U.S. Investments typically require approximately $10 million to $100 million of total capital and involve the acquisition or recapitalization of individual real estate assets, portfolios or platforms. Learn more about 29SC at 29thstreetcapital.com.

29th Street Capital (29SC), a privately-held real estate operator, has acquired Cumberland Crossing Apartments, a 1973-vintage, 286-unit multifamily community located in Marietta. 29SC plans to implement a capital program to enhance curb appeal, improve amenities and renovate unit interiors. The asset was purchased with an existing Fannie Mae loan which the buyer assumed at closing.

“We are very excited to add this asset to our portfolio,” said Javier Bustillo, Senior Vice President of Acquisitions in Texas and Georgia. “Cumberland Crossing is in a great location within Cobb County and poised to benefit from the lack of new supply and tremendous growth going on in terms of jobs and population going forward.” 

Cumberland Crossing is located in South Cobb County within the city of Marietta. South Cobb is one of the fastest growing submarkets in the Atlanta metro area, with over 17 million square feet of office space, two luxury retail centers, two universities and Dobbins Air Reserve Base, as well as SunTrust Park – the new Braves stadium – and The Battery, a mixed-use development adjacent to the sports complex.

“This property fits perfectly with our overall strategy of identifying assets in high-growth locations with real limitations on potential new supply,” Bustillo added. “Being so close to The Battery, the Franklin Gateway redevelopment area and the recently-approved opportunity zones to the north and west of the asset will continue to be a tremendous driver for the foreseeable future.”

This is 29th Street Capital’s ninth acquisition in the Atlanta region. Over the past 12 months, 29th Street Capital has also acquired 15 conventional multifamily assets throughout the U.S. and continues to actively pursue additional opportunities. 

The transaction closed May 30. The sale price and seller were not disclosed.

Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. 

29SC’s conventional multifamily portfolio currently consists of more than 8,450 units having acquired over 14,800 units across its 14 offices in the U.S. Investments typically require approximately $10 million to $100 million of total capital and involve the acquisition or recapitalization of individual real estate assets, portfolios or platforms. Learn more about 29SC at https://29thstreetcapital.com.