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Capstone Equity Solutions Raises $19M in Preferred Equity for Freeport Multifamily
Capstone Equity Solutions has completed a $18.5-million preferred equity raise to support the development of Madison at Owl’s Head, a to-be-built, 300-unit apartment community situated in the Owl’s Head master-planned community in the FL Panhandle city of Freeport.
Bryse Toothaker and Charlie Rimkus of Capstone sourced the investment on behalf of the sponsor and developer, Valdosta, GA-based Ambling Property Investments.
“The tremendous in-migration in the Florida Panhandle has led to high demand for quality housing, rapid rent growth, and overall strong fundamentals,” said Toothaker. “We were excited to see the amount of interest we received from a wide array of investor groups.” The Owl’s Head community is situated on 1,000 acres on either side of US Highway 331 and is proximate to schools, shopping and dining in the immediate area. The community is also surrounded the Nokuse Preservation and Eglin Airforce Base, which act as strong barriers to entry for future multifamily development.
- ◦Financing
