Willow Woods Apartments
As with our other properties, we like to focus on complexes that provide residents with the best possible value for their rental dollar, and Willow Woods does just that.
Durham, NC (PRWEB) October 19, 2016
Prudent Growth Partners, LLC, a real estate investment company based in Chapel Hill, NC, has completed its fourth acquisition this year with its purchase of the Willow Woods Apartment complex in High Point, NC.
The property, a 112-unit complex, is located at 3019 Ingleside Dr., High Point, NC. The purchase price was $5,600,000.
“This is a great acquisition for us. The property has been well maintained, enjoys very high occupancy, and is an ideal candidate for the sort of value-add strategy that we like to pursue” says Tom Hahn, President of Prudent Growth Partners. “We are planning for some immediate improvements to the common areas and clubhouse, and we hope that the property remains an attractive place to call home for the long term.”
Asked why he chose the property, Hahn says “High Point is a great city – it is growing rapidly, demand for apartments is strong, and Willow Woods is very well situated: it is close to restaurants and shopping, but sits in a quiet, suburban setting. As with our other properties, we like to focus on complexes that provide residents with the best possible value for their rental dollar, and Willow Woods does just that.”
Prudent Growth Partners is focused on acquiring more properties in the North Carolina and Virginia. “We are looking for properties that are well managed, well positioned, and provide affordable housing for residents in high growth areas” says Hahn.
The transaction was brokered by Jim Scofield of ApartmentREP in Raleigh, NC. The complex will continue to be managed by Apartment Dynamics of High Point.
About Prudent Growth Partners, LLC
Prudent Growth Partners, LLC is a private real estate investment company based in Chapel Hill, North Carolina. PGP’s focus is on properties that tend to be overlooked by larger institutions and which provide exceptional returns on invested capital along with the possibility of longer term capital gains achieved by expert management and future price appreciation. http://www.prudentgrowth.com