Dallas, TX (September 20, 2021) – Nicholas SunTx RE Partners II, in cooperation with Hughes Capital Partners, continues to expand with the acquisition of Bellevue at Avondale in Decatur, GA.
Nicholas Residential’s subsidiary, Bellevue Living, will oversee the daily operations of the community.
Formerly Alexan Avondale, Bellevue at Avondale was built in 2020 and boasts 270-units of luxury apartment homes. The property features studio, one-, and two-bedroom apartment homes.
Located in the eclectic neighborhood of Avondale Estates in Decatur, GA, Bellevue at Avondale is at the center of culture, creativity and entertainment. The community features a full spectrum of amenities, including a resort-inspired swimming pool, a state-of-the-art fitness facility, podcast studio, maker’s studio for the creative and more.
“With the purchase of Bellevue at Avondale, Nicholas SunTx RE Partners II and Bellevue Living are aggressively entering a new market to provide attainable housing,” said Paul Panza, General Partner and President of Bellevue Living.
“This acquisition broadens our approach to purchase the best assets in major markets across the United States,” added General Partner Ned Fleming. “Bellevue at Avondale is our first acquisition as we venture into new markets across the Sun Belt.”
In addition to Nicholas SunTx RE Partners II purchase of Bellevue at Avondale, the company also closed on Bellevue at The Bluffs in Dallas, TX. With this acquisition, Nicholas SunTx RE Partners II continues their growth strategy into prominent markets across the U.S.
ABOUT NICHOLAS SUNTX RE PARTNERS II RESIDENTIAL
Nicholas SunTx RE Partners II was formed in collaboration between Nicholas Residential LLC, and SunTx Capital Partners, LP, both headquartered in Dallas, TX. Nicholas Residential LLC is a fully integrated, privately held real estate investment firm. SunTx Capital Partners, LP is a private equity firm that invests in middle market manufacturing, distribution, and service companies. Together, Nicholas SunTx RE Partners II invests alongside institutional and private clients in attainable, value-add and opportunistic apartment communities in Tier-1 real estate markets throughout major Sunbelt states, including Texas, Florida, Georgia, Arizona, Tennessee, Nevada, South Carolina, and North Carolina. The company currently holds approximately $650 million of assets under management.
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