PROVO, Utah (April 25, 2017) – Peak Capital Partners, a Utah-based apartment investment and management company, today announced it acquired The Meadows, a 120-unit affordable apartment community in West Memphis, Ark.
The Meadows is Peak’s second apartment community to be acquired in Arkansas. It has convenient access to interstate highways, schools, and shopping. The Meadows is an income-restricted property that is representative of Peak’s commitment to invest in properties that are clean, safe and affordable. Tenants must earn 60 percent of the area medium income or less.
“Peak is excited to add The Meadows to our Memphis portfolio,” said Jamie Dunn, co-founder and managing partner at Peak. “We have made a commitment to this market and look forward to growing further here in 2017.”
Downtown Memphis is 10 miles away. Memphis International Airport is home to FedEx Express Courier’s “SuperHub,” the busiest cargo airport in the United States, and second globally only to Hong Kong. Numerous international companies, such as Nike and Hewlett- Packard, have built distribution centers in Memphis in order to be near the FedEx hub. FedEx alone supplies over 30,000 jobs to the Memphis area, making the courier giant the largest employer in the Memphis area and the largest for the state of Tennessee.
The Meadows offers one-, two-, and three-bedroom units. Amenities include a clubhouse with pool, playground, and picnic area.
About Peak Capital Partners
Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Visit www.peakcapitalpartners.com.