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A joint venture of Eastham Capital and Stratford Management has sold Pinnacle Pointe Apartments, a 150-unit community in Crestview, Fla. REI Capital of Brentwood, Tenn., acquired the property for approximately $21.8 million.

The property, located at 1000 Patriot Lane in the Florida Panhandle, was previously acquired in April 2019 for approximately $14.9 million from Great American Cos. through Eastham Capital Fund V, LP, in partnership with Stratford Management. It was the 12th collaboration between Eastham and Stratford at the time. To date, the partners have co-invested in 19 properties together.