Prudent Growth Partners LLC has acquired Fayette, North Carolina-based Meadow Pointe Apartments, an apartment property. The purchase price is $4.40 million.
CHAPEL HILL, N.C. (PRWEB) NOVEMBER 20, 2020
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $4.40 million acquisition of the 56-unit Meadow Pointe Apartments in Fayetteville, NC.
The apartments – built in the 1980s – are located just south of the Reilly Road exit for I-295 and are less than a mile from Ft. Bragg.
“We are excited to be acquiring some new multifamily assets, and we were equally pleased with the demand for this deal from our investor base,” said Tom Hahn, President of Prudent Growth Partners. “We are hoping to double our multifamily holdings over the next 12 months and Meadow Pointe was a good start.”
Sweetwater Property Management, the current manager, will continue to manage the property.
“We are planning some immediate improvements to the community, including new landscaping, new grilling areas, and a new dog park,” said Hahn.
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.