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Hybridge and Productive Capital Get Straight to Work on Villas Upgrades
Hybridge Capital Management in partnership with Productive Capital Associates, recently acquired The Villas, a 120-unit 360-bed student housing community located at 2555 31st St. in Denver from Central Street Capital for $40 million in an off-market transaction.
Hybridge Capital and Productive Capital Associates will begin immediately on a complete renovation of the student housing community. The improvements will consist of adding a clubhouse with a gym, pool and dog park.
“This was great opportunity to acquire a newer vintage asset at a low-cost basis within a submarket with a lot of potential for growth,” said Max Mellman, managing partner with Hybridge Capital Management. “The immediate upside is to increase NOI by rebranding the property and managing it more effectively.”
Hybridge Capital Management is looking to invest $1 million to $10 million per deal in office, industrial, retail, multifamily, hotel and development sites across the United States.
- ◦Sale/Acquisition
