Militello Exits Two Multifamily Investments
- Jan 19, 2017
Nashville, Tenn. & North Charleston, S.C.—Militello Capital, a private equity firm, recently announced that it has exited two multifamily properties that had been acquired through QRM Capital, a joint venture between Militello Capital and QR Capital. Hillwood Pointe Apartments in Nashville, Tenn. sold for for $23.4 million and Hampton Oaks Apartments in North Charleston, S.C. for $12.7 million.
Located at 6430 Charlotte Pike, 180-unit Hillwood Pointe Apartments was built in 1997 and previously bought by QR Capital for $15 million in 2014. The community comprises 18 buildings with one-, two- and three-bedroom residences. Property amenities include a fitness center, a swimming pool and 300 parking spaces, according to Yardi Matrix data.
Situated on 6600 Rivers Ave., Hampton Oaks Apartments is a 160-unit community, built in 1971. The seven-building property consists of 48 one- and 112 two-bedroom units. Amenities include a swimming pool, a fitness center, a business center and 254 parking spaces.
“It is very gratifying to deliver such value to our investors and the financial advisors that placed their trust and confidence in us when making these investments,” said Matt Brady, co-founder & COO of Militello Capital, in prepared remarks.
Images courtesy of Yardi Matrix