We are proud to acquire these two excellent assets located in the desirable Westbank submarket... - Robert C. Warren III
(PRWEB) September 26, 2012
Delta Alliance Capital Management, LCC (DACM) is pleased to announce the acquisition of 452 units in two multifamily properties in suburban New Orleans, LA for 23.5 million dollars. The properties will require limited rehab. Robert C. Warren III, CEO, noted: “We are proud to acquire these two excellent assets located in the desirable Westbank submarket. The application of our operational expertise coupled with new capital infusion should make these assets solid performers.” DACM partnered on the transaction with Redwood Real Estate.
Delta Alliance Capital Management (Headquartered in Foothill Ranch, California) is a firm organized to acquire and operate income property that can be enhanced in value though a combination of renovation, operational stabilization, and improved management. The company was formed in late 2010. DACM has acquired approximately 1,000 units in the past 13 months. DACM will engage on a contract basis Investors’ Property Services to provide property level management for each of its acquisitions. Investors’ Property Services has a 30 year history of providing third party income property management services on a national basis and it operated by DACM principal, Robert C. Warren III.
Redwood Real Estate Partners (Headquartered in Rancho Santa Margarita, California) is a privately-owned entrepreneurial real estate investment and asset management company founded by Carl Chang and the Chang Family. The company has a team with extensive experience and success in purchasing assets directly as well as providing capital for investment in commercial development, redevelopment, value-add and distressed asset and debt opportunities through preferred equity and junior debt structures.