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Tower 16 Capital Partners Acquires The Deco at Victorian Square, Its First Multifamily Project in Reno, Nevada, for $43 Million

RENO, Nev. & SAN DIEGO, February 28, 2024 Tower 16 Capital Partners Acquires The Deco at Victorian Square, Its First Multifamily Project in Reno for $43 million, well below replacement cost. ....

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AZ Big Media Tower 16 Capital sells Tucson multifamily portfolio for $65.15M

Tower 16 Capital Partners, has sold a pair of multifamily assets in Tucson, Arizona, for $65,150,000 to an undisclosed buyer. ....

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Tower 16 Capital Partners Acquires Its First Multifamily Project in Albuquerque With Four Property Portfolio Totaling 572-Units

ENCINITAS, CA - San Diego-based Tower 16 Capital Partners has acquired a four-property portfolio, totaling 572 units in Albuquerque, N.M. The property was acquired from Greenwater Investments for an undisclosed price.
“We’re very excited about the acquisition of these four properties. The project represents our first investment in Albuquerque, which we believe is poised for future rent growth due to the strong demand for workforce housing,” said Tower 16 co-founder Mike. ....

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Tower 16 Capital Partners Sells 352-Unit The District at Grand Terrace Apartment Community for $88 Million in Colton, California

ENCINITAS, CA - San Diego-based Tower 16 Capital Partners has successfully sold The District at Grand Terrace, a 352-unit apartment project located in Colton, Calif. The property was originally purchased in 2019 for $63,050,000 and was sold this month for $88 million. During its two-year hold, the company performed a $2.6 million capital improvement program including interior unit renovations and enhancing several exterior amenities.
“District at Grand Terrace was a phenomenal execution for Tower 16 and our primary LP investor,” said Tower 16 Co-Founder Mike Farley. “In just two years, we significantly enhanced the value of the property and transacted with one of the preeminent multifamily owners on the West Coast.” ....

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