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CAPREIT Assumes Management of Four Apartment Communities in Buffalo
BUFFALO, N.Y., July 12, 2018 /PRNewswire/ -- CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has taken over management responsibilities of four senior-affordable apartment communities in Buffalo.
The communities – Hertel Park, Walden Park, Trinity Tower and Parkview Apartments – are located within four miles of each other and contain a combined 373 apartment homes. Residents will enjoy expedient access to Buffalo-Niagara International Airport, Walden Galleria and several additional area attractions.
"We've always been a proponent of quality, affordable housing and we're thrilled to be a part of the Buffalo market," said Leticia Palillero, acquisitions associate for CAPREIT. "Each of these four communities possesses a charm of its own, and we're eager to implement our management strategies and help the fight for affordable housing in one of the largest cities in New York."
The communities offer prime connectivity to attractions such as the Buffalo History Museum, Albright Knox Art Gallery and Buffalo Museum of Science. Walden Galleria, located in the nearby Cheektowaga neighborhood, provides a vast array of shopping, dining and entertainment options. The communities also are within a short drive of Interstates 90 and 190, which serve as the gateways to the metropolitan area.
Hertel Park is situated at 1625-1643 Hertel Avenue and contains 138 apartment homes. Consisting of primarily one-bedrooms and 12 two-bedroom units, the community features three laundry rooms, a community room, library and pool table.
Walden Park, located at 101 Bakos Boulevard, features a total of 126 one- and two-bedroom homes ranging in square footage from 550 to 650. Common-area amenities include a fitness center, business room, community room, lobby with fireplace and four laundry rooms.
Trinity Tower is situated at 33 Linwood Avenue and consists of 83 studio, one- and two-bedroom homes ranging from 475 to 800 square feet. Community amenities include a large community room, social room with flat-screen television, library/meeting room, onsite laundry facility and elevators.
Parkview Apartments is a smaller community consisting of 26 units. Based at 769 Best Street, the community features one-, two- and three-bedroom homes.
As one of the nation's leading housing companies since its inception in 1993, CAPREIT has been involved in more than 200 multifamily communities, representing more than 40,000 rental homes housing more than 100,000 residents. CAPREIT is focused on the implementation of a savvy acquisition strategy, innovative financial structures, and a professional property management style based on resident satisfaction and retention, as well as asset preservation and enhancement. Today, CAPREIT maintains its mission to create value-added growth through strategic acquisitions, continuing to capitalize on multifamily housing opportunities. The company currently owns and/or manages approximately 15,000 apartment units in over 20 U.S. states and is actively seeking to grow its multifamily footprint throughout the continental United States.
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