Prudent Growth Partners has acquired Winston-Salem, North Carolina-based Bethabara Garden Apartments, an apartment community. The purchase price is $6.35 million.
CHAPEL HILL, N.C. (PRWEB) APRIL 19, 2021
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $6.35 million acquisition of the 110-unit Bethabara Garden Apartments in Winston-Salem, NC.
The property, built in the 1980s, is located on Hickory Knoll Drive, and is entirely composed of one-bedroom apartments. Amenities at the community include a swimming pool, onsite leasing office, and laundry facilities.
“We have been trying to increase our footprint in the Triad, and we were thrilled to have been able to complete this transaction so quickly after our recent purchase of Lexington Park,” said Tom Hahn, President of Prudent Growth Partners. “We will be using the same management company which will help with some efficiency of operations.”
Prudent Growth is planning on some exterior common area improvements and will continue to employ the current onsite staff.
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. The firm focuses 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.