CapStone Holdings Inc., a self-funded family office business incubator and investment group, today announces a $5 million investment with Blackstock Development LLC, a privately held commercial real estate owner and developer. The investment is part of the Restoration at Westgate purchase in Spartanburg, South Carolina.
“Blackstock Development is an accomplished entity, and we are happy to work with their team. This investment helps CapStone expand its real estate portfolio and explore other related opportunities,” says CapStone’s chairman and founder, Keith J. Stone.
The Restoration at Westgate is a 62,000-square-foot assisted living community designed exclusively 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 region of the United States. 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,” said Seth Henry, Principal at Blackstock Development. “We sought out investors that offered a partnership beyond just funding, but a relationship for future opportunities. We found that in the CapStone team.”
CapStone continues to build a robust real estate investment portfolio and offers a unique diversified investment platform. In recent months, CapStone has continued its strategic partnership in real estate with Blaq Projects, an innovative 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.
To view a list of CapStone’s investments, visit www.capstoneholdingsinc.com/portfolio.
About CapStone Holdings, Inc.
CapStone Holdings, Inc. is a family office-structured holding company that keeps a balanced portfolio through investment strategies that maximize innovation and return with minimal risk. CapStone Holdings and its founders have invested across a wide range of industries for over 33 years and engage in focused philanthropic efforts. For more information about CapStone Holdings, visit www.capstoneholdingsinc.com.
Blackstock Development is a privately held commercial real estate owner and developer headquartered in Greenville, South Carolina. Founded in 2017, Blackstock Development is currently developing multiple sites across the Southeast. With over 50 years of experience as developers and entrepreneurs, they bring to their projects a unique focus on creatively transforming under-utilized properties to help them realize their full potential.
