We are pleased to acquire an additional asset of this quality and continue to expand our footprint in Southern Indiana.
Evansville, IN (PRWEB) June 27, 2016
Delta Alliance Capital Management, LLC (“DACM”) is pleased to announce its ninth multifamily acquisition with the closing of the Stonebrook Apartments, a 121 unit apartment community located in Evansville, Indiana. The apartment community is a Class C asset which has been substantially renovated over the past 3 years. Stonebrook Apartments is adjacent to The Arbors at Evansville, a 150 unit asset purchased by DACM in 2011. Together, the assets have complimentary unit mixes, offer increased street frontage and a clear operational efficiency. Stonebrook will be rebranded as The Arbors at Evansville – South. The purchase of Stonebrook follows within eight months of DACM’s latest Midwest acquisition. Robert C. Warren III, CEO, noted: “We are pleased to acquire an additional asset of this quality and continue to expand our footprint in Southern Indiana.”
Delta Alliance Capital Management (Headquartered in Mission Viejo, California) is a private, fully integrated real estate investment company that acquires, renovates, repositions and manages apartment communities located in highly desirable, supply-constrained markets. DACM’s primary focus is to create value through a combination of renovation, operational stabilization and improved management. It has acquired approximately 2,300 multifamily units in three states.
DACM’s affiliated entity, Investors’ Property Services (“IPS”), will be responsible for the day-to-day management of The Arbors at Evansville – South. The IPS team has extensive management experience spanning over 36 years and has earned a reputation for its commitment to excellence in property and asset management services while working with some of the most recognizable clients in the industry.