FOR IMMEDIATE RELEASE:
July 2, 2015 – Chicago, IL-based Tricap Residential Group, an owner, operator and developer of multi-family properties, is pleased to announce the continued growth of their portfolio with the acquisition of Southside Flats in Chattanooga, TN. This transaction will add 40 units Tricap’s portfolio, bringing the total operating unit count to nearly 2,000 apartments.
The property is located in the vibrant Southside neighborhood, which is focused on creating a sustainable urban neighborhood and is within walking distance to an array of pubs, retailers and grocers. Southside is also home to Finley Stadium and First Tennessee Pavilion. The property itself is a four-story building with 35 uncovered parking spaces. Renovations are planned and include updating curb appeal, appliances, and interior common area finishes, giving the community a new, urban look and feel.
“An aggressive marketing campaign will cater to young professionals who desire high-quality rental housing in Chattanooga’s hottest downtown neighborhood, meanwhile, unit upgrades will produce product superior to competition providing an upside opportunity in rents.” said President Bryan Pritchard.
Additionally, the company is looking to continue their momentum in expansion with the anticipated closing of an additional property in Chicago, IL, their third acquisition the quarter.
Founded in 2007, Tricap Residential Group is fully integrated multifamily company specializing in property management, acquisition & development, and advisory services in the Midwest. While the extent of our services is exceptional, it is our perspective that makes Tricap unique: An owner’s perspective, drawn from our roots in property acquisition and improvement.
Today, that perspective defines Tricap’s approach to everything we do: the people we hire, the properties we acquire, the tenants we find, and the clients we serve. It drives us to work harder, perform better, and deliver beyond expectations on every project. It also pushes us to constantly improve our expertise and services, by embracing the newest technologies and staying a step ahead of rapidly changing market conditions. It’s a truly personal approach.
CONTACT: Brandi Tucker, Marketing Director, 630.442.8162, BTucker@TricapRes.com, www.TricapRes.com