Villas at El Dorado Selects Capstone for New Management
October 1, 2011
Capstone Real Estate Services, Inc. Awarded Management of Harris County Seniors Community
Houston, TX - Capstone Real Estate Services, Inc. has assumed management of Villas at El Dorado Apartments, a 159-unit affordable seniors community located in Friendswood, TX. A diverse background, coupled with the company’s growing tax credit and seniors portfolios and enthusiastic client endorsements, won Capstone the Villas at El Dorado contract. The property operates under the Low Income Housing Tax Credit (LIHTC) program, and all functions will be overseen by the company’s local Houston office. Capstone has had a continuous presence in the Houston market since 1978, and currently manages approximately 33 properties and 5,875 units in the Greater Houston area. In business for over forty years, Capstone boasts an extensive and accomplished history in property management, which includes substantial experience in the affordable housing market.
The company has managed properties operating under a wide spectrum of programs, such as LIHTC, RTC/AHDP Affordable Housing, Tax Exempt Bond, HUD Project-Based Section 8, Military RentRestricted, and Public Housing. Currently, Capstone manages over 20,000 affordable units, which ranks it as the 10th largest affordable housing management company in the country. In order to ensure that all operations meet and exceed government standards, Capstone’s Compliance department offers extensive support, training, and monitoring services.