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Follow on Google News | DB Capital Recapitalizes Provo, UT Apartment Community with Institutional Capital PartnerBy: DB Capital Management Over the past two years, DB Capital invested in a multimillion- "Despite the challenging market, we were able to achieve investor returns that were considerably ahead of original projections," The recapitalization replaces syndicated equity with an institutional equity partner. The partnership plans to further enhance the community's competitive position in the Provo market by improving building systems and amenities. Ascent at Union Square is located at 424 North 300 East, less than a mile from Brigham Young University. The property features a mix of one- and two-bedroom floorplans, covered parking and a first class amenity package. Rawley Nielsen, Mark Jensen and Darren Nielsen of Colliers represented both parties in the transaction. Cameron Chalfant and Brian Eisendrath of Institutional Property Advisors' Capital Markets team facilitated the agency financing execution. About DB Capital Management DB Capital Management (http://www.dbcap.com) is a vertically integrated real estate investment group with over $600 million in assets under management. Based in Denver, CO, DB Capital Management focuses on owning and operating multifamily property in strategically targeted submarkets across the United States. The firm's strategy revolves around a hands-on approach to acquisitions and asset management, coupled with an extensive understanding of each target investment submarket, which leads to maximum revenue generation and subsequent value. Media Contact: Bruce Beck/DB& (818) 540-8077 (mobile) (805) 777-7971 (office) bruce@dbrpr.com End
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