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| LaCrosse Estates, Rapid City, SD |
RAPID CITY, SD — Circle Capital Partners, in partnership with Tzadik Management and Elevate Investment Group, announced it has acquired LaCrosse Estates, a 265-unit multi-family community located at 761 East Anamosa Street in Rapid City, South Dakota from Belgarde Property Services.
In the past 14 months, Circle Capital Partners has acquired 1,875 units valued at more than $200 million. It will look to acquire multifamily communities in strategic locations throughout the United States.
Circle Capital Partners will begin immediately on implementing an institutional management program with Tzadik Management on the 1985 built community. It will do some on minor unit and community renovations at the property.
"Circle Capital Partners was attracted to LaCrosse Estates because of its high growth location, amenity rich environment and overall rental upside," said Todd Linden, Managing Principal, Circle Capital Partners.
"We will continue to look to acquire communities in the Midwest and throughout the sunbelt states, as well as partner with proven owner/operators like Tzadik when the opportunity arises."
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| Michael Haeder |
Richard Valdes, Circle Capital Partners Co-Managing Principal went on to say that “after acquiring $35 Million in apartment communities within the last two months, South Dakota will continue to be a market that we are interested in because of its strong economic growth with no state income tax, job growth, strong tourism, affordability and solid workforce.”
Michael Haeder handled the transaction on behalf of Circle Capital Partners/Tzadik Management and the seller.
For more information, please visit www.circlecapitalpartners.com or contact Todd Linden at Todd@circlecapitalpartners.com.
CONTACT:
David
Ebeling
Ebeling Communications
(949) 278-7851
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