Dome Equities, LLC today announced the acquisition of The Westcott.
The Westcott is a 444-unit, Class B+ apartment community built in two phases in 2000 and 2005 in the state capital of Tallahassee, Florida. The property has a suburban location in a well-established residential neighborhood with convenient access to an abundance of retail and office employment and three colleges. Tallahassee is Florida’s governmental hub along with post-secondary institutions and expanding healthcare facilities employing over 93,000 employees within five miles of the property. Florida State University is located in Tallahassee with 41,867 students. The State of Florida is the largest employer, in Tallahassee, with 22,600 employees. Within five miles of the property are 10.1 million square feet of 96% occupied retail space which includes 54 restaurants and 12 hotels. Within three miles there is 5.3 million square feet of 97% occupied retail space – this includes 6 grocers.
Dome’s apartment portfolio of 30 properties totals nearly $1.3 Billion.