Denver, CO (PRWEB) September 19, 2014
Caddis Capital Investments LLC, a leading investment firm focused on income producing real estate, closed on an investment in Carriage House Apartment Homes LLC, a 94-resident Student Housing complex, today with their joint venture development partner, Catamount Properties, who assembled the site. The new $10 Million luxury Student Housing community will sit directly across South Shields Street from the Colorado State University (CSU) campus. Catamount plans to break ground in the next several weeks with the residences available for lease before the 2015 school year commences.
Carriage House Apartments are located on a prime, 1.5-acre corner lot directly across from the CSU campus, several hundred yards from CSU’s Academic Village dormitory complex and just 3 blocks from the Student Recreation Center. The complex will provide students with a wide range of amenities to create an ideal community for residents to live, study and play, including 57 reserved parking spaces onsite.
“Colorado State University and the city of Fort Collins have such a rich significance in Colorado history and this project highlights our confidence in this micro-market,” said Chuck Bailey, owner of Catamount Properties, a Colorado resident for the past 53 years and a Student Housing industry veteran. “We look forward to continuing the tradition of blending modern floor-plans and authentic Colorado architecture by giving residents a new, contemporary living environment that reflects the natural beauty of Fort Collins. This community will truly be one-of-a-kind for the CSU student community because it’s comprised of multiple, smaller scale buildings which live more like houses, thus the name Carriage House.”
Residents will be able to choose from a variety of spacious floor plans spanning five separate, low-rise buildings onsite including one, two and three-bedroom options. The individual apartments will come fully outfitted with private outdoor decks, modern appliances including refrigerators with ice-makers, dishwashers, self-cleaning ranges, hardwood style flooring, air conditioning, full-size washer and dryer hookups in each unit, 9-foot ceilings and more. Residents will be able to sign individual leases, meaning they are only responsible for the rent of their individual bed, not the rent of the entire apartment. The entire property is also equipped with high-speed Wi-Fi and will employ an on-demand maintenance and management staff.
“2014 continues to be another benchmark year for Caddis Capital Investments,” said Rhett Trees, an equity partner at Caddis Capital Investments. “As we near the closing of our current investment vehicle, Trico Fund III, we are activating $40 million to acquire new income producing real estate assets across the Western United States and we are honored to include Carriage House in our portfolio.”
“As a CSU College of Business board member, alumni and former student athlete, I am proud to see this project come to fruition and we are very excited to once again partner with Catamount Development to launch Carriage House,” said Tery Larrew, founder and managing partner at Caddis Capital Investments. “The Fort Collins market is prime for this type of product with a historic 2 percent vacancy rate, a world-class student base and a thriving eco-system.”
Carriage House will initiate pre-leasing activities in the coming months and open for students in August 2015. For more information, please visit http://www.catamountproperties.com/carriage-house-fort-collins-colorado.html
ABOUT CADDIS CAPITAL INVESTMENTS:
Caddis Capital Investments (CCI) is an actively managed, diversified investment firm providing investors with exclusive access to unique, high-yield vehicles via long-term relationships with the company principals, Tery Larrew and Rhett Trees. Their fundamental thesis is to assemble a diversified portfolio of low-risk, high cash-flow assets with the goal of delivering capital preservation, consistent quarterly cash-on-cash income paired with equity growth. CCI achieves this objective by acquiring, then adding-value or repositioning under-valued, mismanaged, sub-performing or improperly capitalized income producing assets. As a result of this strategy, CCI offers a variety of investment vehicles for a wide spectrum of investors. To learn more, please visit: http://www.CaddisCapitalInvestments.com or call 303.888.2826.