News

Capstone Apartment Partners is pleased to present its Tampa, FL Summer 2015 Market Report. The Tampa Bay MSA continues to thrive. Over the past year, 32,900 jobs have been added to the area causing an increase in demand for multi-family units. With new developments coming to the area, it is expected that the Tampa Bay market will continue to add hundreds of jobs to the area and improve economically.

The current vacancy rate for the Tampa market has improved slightly over the past six months to 4.2%. Demand for apartments remains strong with 3,223 units absorbed over the past six months and a total of 5,639 absorbed over the past year. With 5,000 units under construction and an additional 6,700 units proposed. Market experts anticipate the occupancy rate will remain steady throughout the next 12-18 months, with the region also experiencing a 2.0% – 3.0% rent growth over the coming 12 months.

Click here to read more regarding the flourishing Tampa, FL market. 

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Capstone Closes $16.9 Million Sale of 299-Unit Apartment Community in Greensboro, NC

Capstone Apartment Partners has closed the $16.9 million sale of Brannon Park: a 299-unit garden-style apartment community in the Northeast Greensboro submarket, situated within one mile of two grocery stores, several restaurants, and retail outlets. The tree-lined property sits on nearly 24 acres, with 13 three-story apartment buildings nestled around a small lake.

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