North Carolina
Brazos Residential Expands Footprint in North Carolina with $41M Acquisition.
DALLAS, Sept. 1, 2022 /PRNewswire/ — Brazos Residential, LLC, a Dallas-based actual property personal funding agency specializing in multifamily investments, broadcasts the $41M acquisition of the Wilson Woods Townhomes situated in Wilson, NC. The transaction marks the agency’s tenth acquisition in 2022.
“Wilson Woods has an exceptionally distinctive story,” explains James Roberts, Managing Associate, and Cofounder
Constructed in 1974, Wilson Woods Townhomes is located on an expansive 31 acres at 1706 Winery Dr. in Wilson, NC, about 40 miles from jap Raleigh. The group has 376 models and presents a fascinating mixture of beneficiant one, two, and three-bedroom ground plans, with a mean unit measurement of over 1,000 sq. ft.
“Wilson Woods has an exceptionally distinctive story,” explains James Roberts, Managing Associate, and Cofounder. “The asset has been owned by the vendor for over twenty-five years. This kind of long-term, privately owned property could be very uncommon, particularly in extremely sought-after markets in North Carolina.”
The group is the agency’s seventh North Carolina acquisition this yr and highlights the corporate’s funding technique of buying value-add alternatives with important operational upside in rising cities close to well-established markets like Raleigh-Durham.
“This funding continues to help our thesis of concentrating on robust rising markets with immense potential. Given its proximity to Raleigh-Durham, the property offers strategic synergies to Brazos’ increasing portfolio in jap North Carolina,” proclaims William Hancock, Managing Associate, and Cofounder. “We’re excited to reposition this asset and capitalize on its operational inefficiencies to maximise returns to our investor companions and enhance the residing expertise of the tenants.”
Based in 2022, Brazos Residential owns over 1,700 multifamily models throughout the American sunbelt, predominately situated in Texas and North Carolina. Brazos employs a dynamic staff of actual property, personal fairness, accounting, and capital market professionals and controls over $215 million in multifamily actual property investments.
For extra data, please contact Taylor Leander, Director of Investor Relations, at (214) 432-8065, Traders@BrazosResidential.com.
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SOURCE Brazos Residential