Gray Capital Acquires 250-Unit Apartment Property Sycamore Terrace, the Third Asset in $100M Multifamily Fund
INDIANAPOLIS,Dec. 7, 2022/PRNewswire/ -- Real estate private equity firm Gray Capital has closed on their acquisition of Sycamore Terrace Apartments, a 250-unit luxury multifamily apartment community located inTerre Haute, IN.
Gray Capital's strategy for this project includes repainting exteriors to enhance curb appeal, installation of a controlled access and gate system at the property, cosmetic improvements for the club house, and improved on-site management of the property through Gray Capital's property management company, Gray Residential.
"Sycamore Terrace is already a best-in-class asset, and our improvements at the property will ensure that Sycamore Terrace continues to set the standard for luxury apartment living and meet the needs of a growing community" saysSpencer Gray, President and CEO of Gray Capital.
George Tikijian,Hannah Ott, andCameron Benzof the Indianapolis Cushman & Wakefield represented the seller in the transaction, with Gray Capital representing itself.
Sycamore Terrace is the third property within Gray Capital's$100 millionmultifamily investment fund, The Gray Fund, (http://gray.fund) and follows the acquisition of Club Meridian inLansing, MIandIndianapolisapartment property Stonybrook Commons earlier this year.
Gray Capital's acquisitions in 2022—Sycamore Terrace, Club Meridian, and Stonybrook Commons—total over$127 million和灰色资本+ 775美元的一部分sets under management and more than$2 billionin commercial real estate transactions to date since its founding in 2015.
更多信息关于投资与灰色的帽子ital, interested accredited investors can visitwww.GrayCapitalLLC.com, or they can email a member of Gray Capital's investment team at[email protected]。
DISCLAIMER: This is not an offer to invest. Any investment offer will be made through a private placement memorandum.
SOURCE Gray Capital
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