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Real Estate - Commercial

CapStone Holdings Inc. enters $5M investment agreement with Blackstock Development

Real Estate - Commercial
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CapStone Holdings Inc. has invested $5 million with real estate owner and developer Blackstock Development LLC as part of the purchase of Restoration Senior Living at Westgate in Spartanburg.

CapStone Holdings is a self-funded family office incubator and investment group.

“Blackstock Development is an accomplished entity, and we are happy to work with their team,” CapStone chairman and founder Keith J. Stone said in a news release. “This investment helps CapStone expand its real estate portfolio and explore other related opportunities.”

Restoration at Westgate is a 62,000-square-foot assisted living community designed for those who need continuous care. The development includes 82 units which will accommodate 100 residents. Blackstock Development is developing multiple sites across the Southeast. The company is led by experienced real estate developers and entrepreneurs who focus on creatively transforming under-utilized properties and land.

“CapStone's investment helps take the multi-million-dollar project through to the finish line,” Seth Henry, principal at Blackstock Development, said in the release. “We sought out investors that offered a partnership beyond just funding, but a relationship for future opportunities. We found that in the CapStone team.”

In recent months, CapStone has continued its strategic partnership in real estate with Blaq Projects, a property development, construction and investment company in Australia. In addition, one of its significant real estate developments includes the fast-growing City Foundry STL in St. Louis.

Reach Ross Norton at 864-720-1222.

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