December 4, 2015
PROVO, Utah (Dec. 1, 2015) – Peak Capital Partners, a Utah-based apartment investment and management company, today announced it acquired Autumn Lakes, a 296-unit apartment community in Newport News, Va.
“Autumn Lakes is a nice community in a highly desirable area, located near major employers and retail centers,” said Chris Manning, a managing director at Peak. “This is Peak’s first apartment community in Virginia.”
Peak will immediately begin several improvements to the community, including new rain gutters, repairs to stairwells, and exterior paint and vinyl finishes. Peak also will dramatically reduce water usage at Autumn Lakes by replacing all existing three- or five-gallon-per-flush toilets with ultra low flow 0.8-gallon-per-flush toilets. Showerheads and aerators will be replaced with low-flow equipment.
The community was developed with the Low Income Housing Tax Credit (LIHTC) federal housing program, making rent affordable to lower-income households. The property offers one-, two- and three-bedroom units.
Autumn Lakes is conveniently located near major interstates, public transit, restaurants, and schools.
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. Founded in 2007, the firm owns 90 apartment communities in 15 states housing 14,000 families. Visit peakcapitalpartners.com.