ROCHESTER, N.Y., Feb. 8, 2018 /PRNewswire/ -- CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has taken over management responsibilities of Rochester Highlands, a 504-unit affordable apartment community in southern Rochester.
Located at 47 Green Knolls Drive, Rochester Highlands is surrounded by some of northeastern New York's most notable and impactful economic drivers, such as Eastman Business Park, Rochester Institute of Technology, University of Rochester and Strong Memorial Hospital. The community also sits across from CityGate, a recently developed 45-acre mixed-use destination center.
"We are extremely excited to add Rochester Highlands to our third-party management portfolio, and this community has an excellent location that makes it very easy to get around the city and beyond," said Stephen Catarinella, vice president of acquisitions for CAPREIT. "Rochester is a great submarket for families, and the locale is one of the most commuter-friendly in the northern portion of the state."
Strong Memorial Hospital is within a half-mile of Rochester Highlands and employs 9,500 physicians and staff members. The community also offers convenient access to Interstate 390, which serves as a five-mile gateway to Greater Rochester International Airport, and connectivity to major thoroughfares such as Interstate 90 and Interstate 490.
The locale provides everyday-life convenience with nearby restaurants, RTS public bus transportation and stores, including a Costco and Walgreens. Nearby attractions include Highland Park, Rochester Museum of Art and Science, Seabreeze Amusement Park and Strong National Museum of Play. The shores of Lake Ontario and Finger Lakes Wine Country can be accessed within a one-hour drive.
Rochester Highlands consists of studio, one-, two- and three-bedroom apartment homes ranging from 451 to 875 square feet. Apartment interiors feature cable-ready setups, vinyl-plank flooring in living areas, linen closet and ceiling fans.
Existing community amenities include community clubhouse, on-site leasing office, laundry facilities and playground.
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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