CAPSTONE PROPERTY GROUP
While Capstone was founded in 2017, it can trace its roots to 1983 when Jeff purchased his first residential rental property in Augusta, Ga while he was a medical student. The first commercial investments were centered around medical office space to supply the growing needs of his Gainesville based medical practice. As those buildings grew in size and number, Capstone was created in 2017. Jonathan Collins came on board to manage the existing portfolio and to lead the development of new projects. Capstone expanded from its roots in medical office into multifamily in 2019 with Capstone at Banks Crossing. Capstone's current focus is on larger mixed-use developments that incorporate hospitality, multifamily and retail in a concentrated district. The National, a mixed-use development in downtown Gainesville, was recently completed. The project included a Marriott hotel, a Class A multifamily building and a historic preservation project for meeting space and restaurants. We are completing the planing stage of a 30 acre mixed-use project in Braselton, Ga. Our focus is to invest in growing communities through developments that improve the quality of life in their region. We enjoy and excel at taking underutilized properties and reimagining them for the future.
OUR TEAM
JEFF PAYNE
Jeff is a native of Gainesville. His business career began at the age of 13 when he ran a small neighborhood grocery store with his grandfather and had the distinction of being the youngest person in the US to hold a license to accept food stamps. He graduated from Gainesville High School and spent four years as a cadet at North Georgia College, graduating with a degree in biology and minor in chemistry. In 1987, he graduated from the Medical College of Georgia and completed his ophthalmology residency there as well, serving as Chief Resident.
Jeff returned to Gainesville in 1991 when he purchased North Georgia Eye Clinic from Dr. John Reed. He served as CEO and Chief Medical Officer during his 30 years of clinical practice. During that time his office relocated twice in Gainesville for expansion, adding a regional eye surgery center and growing to 5 offices across north Georgia. The practice was sold to Eye South in 2021 and Jeff retired from the practice of medicine.
From the beginning of his medical career, Jeff was involved in real estate. He purchased his first property while a medical student. What began as an avocation that provided office space for the eye clinic, grew into a regional development company. Medical office was initially the primary focus of his real estate dealings, and formed the the basis for the beginning of Capstone Property Group, which was created in 2017.
Jeff currently serves as Chairman of Capstone Property Group which is responsible for the redevelopment of the old First National Bank property in downtown Gainesville into the Marriott Courtyard Hotel and the National apartment tower. They have restored the former Walton Jackson building into meeting space and restaurants to support downtown Gainesville. Capstone has developed a number of multifamily, office buildings and Publix anchored centers across Georgia.
Jeff serves on the Board of Directors of the UNG Foundation, the Lake Lanier Islands Authority, the Greater Hall Chamber of Commerce, Riverside Preparatory Academy, Chattahoochee Country Club and the Truist Bank Advisory Board. He has served on the boards of Lakeview Academy, the Quinlan Art Center, the Georgia Society of Ophthalmology, the Georgia World Congress Center and is a 2006 graduate of Leadership Georgia.
He is married to Hart Wilheit Payne and they have two daughters: Mary Keys, a 2023 graduate of Wofford College, currently working for the US government in Germany and Elizabeth, a sophomore at the University of Georgia.
JONATHAN COLLINS
Jonathan Collins, President and co-founder of Capstone Property Group, graduated from the University of North Georgia in 2003 with degrees in Accounting and Finance. Jonathan joined BB&T via their management training program in 2003 and served in multiple commercial and corporate lending roles in Gainesville, Ga and Atlanta, GA over his 12 year banking career with BB&T. Prior to forming Capstone Jonathan served as the CFO for a privately held company and has provided consulting services for numerous businesses.
Jonathan has served the Gainesville community in various civic organizations which include board positions with the Warren Featherbone Business Innovation Center, Arts Council, John Jarrard Foundation, Gainesville-Hall Co Chamber of Commerce, Lakeview Academy, United Way of Hall County and the Gainesville Rowing Center. Jonathan and his wife, Adriana Collins, along with their four children reside in Gainesville, GA where Jonathan enjoys playing golf and traveling in his spare time.
WEBB YONGUE
Webb was born and raised in Winnsboro, SC. He graduated from The Citadel in 2020 with a major in Business Administration and a minor in Art. After graduation, Webb worked for several years as a doorman at a luxury hotel in Charleston, SC, while also serving as the State Sales Manager for a vodka brand he helped introduce to the state.
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With dreams of becoming an entrepreneur, he launched his own clothing brand in 2022, which he operated out of his garage. In early 2023, he began taking classes to earn his property management license, with plans to start his own property management business in Charleston.
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Just a week before receiving his license, Webb happened to check in Jeff Payne while working at the hotel. Jeff invited him to Sea Island for a round of golf, and by the end of the day had offered him a job. Webb now leads developments across multiple states and is focused on ensuring the continued growth of the company.