Tucson, Arizona Multi-Family Complex Acquired by RCMG and Strategic Capital Partners
Tucson, Arizona, October 24, 2007—A 184-unit, multi-family complex has been purchased by a
joint venture of RCMG, a Bay Area-based private real estate company, and a commingled fund
managed by Strategic Capital Partners, LLC (SCP), a real estate investment management company
based in Chicago.
The property, known as Broadway Gardens, was built in 1980 and is located on East Broadway
Boulevard in the rapidly expanding southeastern submarket of Tucson, Arizona. The partnership
plans to invest $1.3 million, or $7,000 per unit, to reposition the property.
“Strategic Capital Partners is pleased to invest with a company that has such a strong reputation and track record as RCMG,” said Fred Scott, Vice President of Acquisitions for Strategic Capital
Partners. “We look forward to a long and successful partnership on this asset and future
transactions.”
Added Thomas Hall, a principal of RCMG, “This is a key acquisition for our portfolio as it is located
in one of the strongest multi-family markets in the Southwest. We are particularly excited about
having a value-added component in this asset along with strong market fundamentals.”
RCMG was formed in 2006 by the key principals of KWR and Associates (www.kwrice.com) to take
advantage of the strengthening multi-family sector. RCMG and its affiliates own apartment units in Georgia, South Carolina, Alabama, Mississippi, Arizona, and California. This acquisition increases the number of apartment units RCMG and its affiliates have in its portfolio to approximately 2,700.
For more information on other RCMG projects, call 925.355.3290 or visit www.rcmginc.com.
Strategic Capital Partners, LLC (SCP) is a privately-held, real estate investment management firm
that employs a value-added investment strategy of acquiring commercial and multi-family properties via joint ventures with experienced real estate operators. SCP is focused on properties across the United States that can be repositioned, re-leased and/or redeveloped. The company is headquartered in Chicago with offices in Indianapolis and New York. Learn more about SCP at www.StrategicCapitalPartners.net.