Alpha Capital Partners Opportunity Zone Fund Update
Alpha launched its opportunity zone fund in October 2018 and follows the firm's investment strategy in student housing and multifamily real estate projects.
PITTSBURGH, Jan. 29, 2019 (GLOBE NEWSWIRE) — Alpha Capital Partners, a Pittsburgh area based private equity real estate firm, is under contract for their third opportunity zone project in the Alpha Opportunity Zone Fund I (“Alpha OZ Fund”). Launched in October of 2018, Alpha OZ Fund follows Alpha Capital’s previously established investment strategy surrounding student housing and multifamily real estate projects within secondary and tertiary middle markets. In addition to the three projects under contract (two (2) multifamily and one (1) student housing), Alpha is currently underwriting more than twelve (12) investment opportunities in or around Atlanta, Houston, Cincinnati, Columbus, Memphis and Pittsburgh.
In order to work efficiently within the bounds of the Opportunity Zone laws, specifically those requiring the substantial improvement of acquired properties, Alpha Capital built out a Development & Construction Services team in 2018, led by Alex Tempalski. This team will focus on managing the critical path and execution on multiple development and redevelopment projects. Alex says, “A successful project combines selecting the right property at the right price with a motivated team of architects, contractors, vendors, and operations personnel that can execute the business plan.” Alpha is uniquely positioned to benefit from a vertically-integrated structure (Investments, Development, Construction, Leasing and Property Management) and its previous experience in middle market student and multifamily projects.
When asked about the progress of the Alpha OZ Fund, Jide Famuagun, CEO of Alpha Capital, said, “I believe that we have some of the most knowledgeable people on opportunity zone investing and a strong operational team that can deliver behind them. I feel really good about our position and the opportunity set in front of us.”
To complement their recent white paper, Alpha Capital will be hosting a webinar this week on the basics of Opportunity Zone Investing. More details can be found at www.alphacapitalpartners.com.
About Alpha Capital Partners:
Alpha Capital Partners is a Pittsburgh-based real estate investment firm that acquires student-housing, multi-family and medical offices in secondary and tertiary markets. The company is a leader in the middle-market space and has delivered higher-than-expected margins and risk-adjusted returns. Alpha Capital Partners is continuously growing its portfolio and currently owns 30+ properties in growth markets across the United States. For additional information, visit www.alphacapitalpartners.com.
