SAN FRANCISCO, CA – Goodegg Investments, an award-winning commercial real estate investment firm in San Francisco, California, announced the acquisition of Crowne Club Apartments, a 250-unit class B+ apartment community in Winston-Salem, North Carolina, via its Goodegg Wealth Fund II and Goodegg Growth Fund III.
Crowne Club joins Encore Metro at Millenia – a 215-unit class A multifamily asset in Orlando, Florida, which the firm bought in December 2023; as the second and final asset in Goodegg Wealth Fund II.
Together, the two assets provide investors a much sought-after built-in diversification opportunity through complementary assets, business plans, and markets. Investor risk is further mitigated through the fixed rate financing placed on each asset, sheltering the investments from the interest rate volatility we’ve seen in recent months.
Goodegg’s strategic approach to selecting properties like Crowne Club and Encore Metro ensures that investors are diversified, not just geographically but also in terms of market segment, thus maximizing stability and minimizing risk.
Goodegg Growth Fund III was the firm’s third Regulation Crowdfunding (RegCF) offering, allowing both accredited and non-accredited investors to participate, at a much more accessible minimum investment level, giving more people the opportunity to invest in strong multifamily assets, reap the tax advantages of investing in real estate, mitigate risk, and diversify their portfolios.
While it can be challenging to find solid new-acquisition multifamily opportunities in the current environment, Goodegg continues to maintain high acquisition standards and offers their investors a combination of strong multifamily and hotel investments in key growth markets around the country.
Crowne Club is a 250-unit class B+ garden style apartment community completed in 1995. The asset is in brilliant physical condition, with immediate value-add upside, and is located minutes from the Atrium Health Wake Forest Baptist Medical Center (19,000+ jobs) in an affluent submarket of Winston-Salem, NC.
Located northeast of Charlotte and west of Raleigh-Durham, Winston-Salem has been named one of the top 10 emerging multifamily markets of 2024. The city ranked No. 10 on Forbes’ list of the 25 Best Cities for Renters and No. 1 in the study’s affordability category in 2024.
Anchored by Wake Forest University and several large banking and medical employers, Winston-Salem offers an affordable cost of living and strong job growth, which have led to low unemployment and strong net migration rates. Combined with limited new supply (only 3 market-rate apartment communities are slated in the entire Winston-Salem market over the coming 24 months), this provides the ideal scenario for strong rent growth as demand continues to climb.
“Crowne Club is a fantastic asset in an brilliant emerging market, which has shown both strong growth and resilience. We’re proud to add this property to our growing portfolio, which includes several other assets in the Carolinas and throughout the Sun Belt,” said Goodegg Investments CEO Julie Lam. “Our investors like strong value-add assets like this one, particularly when paired with complementary assets like Encore Metro, which give them built-in diversification.”

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CHICAGO, IL – Equity Residential (NYSE: EQR) and Blackstone (NYSE: BX) announced that Equity Residential has agreed to buy 11 apartment properties from Blackstone Real Estate strategies in separate transactions, including Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners, for approximately $964 million. The transactions, which remain subject to customary closing conditions, are expected to close in the third quarter of 2024.
The properties, which are located in Equity Residential s expansion markets of Atlanta, Dallas/Ft. Worth and Denver, total 3,572 apartment units and are on average eight years ancient. These properties are attractive to Equity Residential s higher end renter demographic and accelerate its growth in these markets. Through its industry leading operating platform, Equity Residential expects to unlock additional opportunities and value with these properties. The portfolio consists of four properties with 1,357 apartment units in Atlanta, four properties with 1,237 apartment units in Dallas/Ft. Worth and three properties with 978 apartment units in Denver. In connection with this transaction, Equity Residential is reaffirming the earnings guidance provided in its Second Quarter 2024 Earnings Release on July 29, 2024.
We are pleased to add these high-quality, well-located properties to our growing portfolios in Atlanta, Dallas/Ft. Worth and Denver at pricing that is attractive compared to replacement costs, said Alec Brackenridge, Equity Residential s Executive Vice President and Chief Investment Officer. This transaction is a significant step in our goal of generating a higher percentage of our annual net operating income from these strong growth expansion markets. We appreciate partnering with Blackstone on this mutually beneficial transaction and look forward to continuing to grow the relationship.
Asim Hamid, Senior Managing Director at Blackstone Real Estate, said, This transaction represents an brilliant outcome for our investors and demonstrates the strong institutional demand for high quality assets. Rental housing remains one of our highest-conviction themes, and we continue to see strong fundamentals in attractive markets. We re pleased to have worked with EQR on this transaction, who will be an brilliant steward of these properties going forward.
Eastdil Secured, RBC Capital Markets, LLC, Santander and Sumitomo Mitsui Banking Corporation (SMBC) acted as Blackstone s financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone s legal counsel. Neal Gerber & Eisenberg LLP, Hogan Lovells, and Bryan Cave Leighton Paisner LLP served as Equity Residential s legal counsel.

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OCOEE, FL – Greystar, a global leader in the investment, development, and management of real estate, announced that it has broken ground on Crown Point Village in Ocoee, FL, alongside its talented joint venture partner, Wire Development. Crown Point Village, featuring Elan Crown Point, is an exciting mixed-used community located approximately 15 minutes west of Orlando’s Central Business District.
“We’re excited that construction on Crown Point Village is underway,”Parker LeCorgne, Senior Director, Development, Greystar, said. “This milestone is the result of fantastic partnerships with Wire Development, the City of Ocoee, Orange County, Duck Pond Realty, Santander, as well as a world-class design team. Elan Crown Point is central to the city’s vision for establishing a town center ambiance.”
The community embraces the 22-mile West Orange Trail, which runs in the middle of Elan Crown Point. The trail, which averages over 150,000 users per month, provides seamless biking, skating, running, horseback riding, canoeing, fishing and many additional recreational opportunities. The community is close to nearby local amenities including Disney World, Universal Studios, Forest Lake Golf Club, Winter Garden Village, Plant Street Market, Sea World, and Lake Apopka, to name a few.
“We are making a modern, elevated living experience,” LeCorgne said. “There is an abundance of recreational opportunities for residents interested in an active, outdoor lifestyle. The amenities at Elan Crown Point will encourage social connectivity and recreation with the combination of light wood tones and sophisticated details, paired with organic and coastal elements.”
Elan Crown Point will feature 315 apartment residences with a mix of one-, two- and three-bedrooms, inclusive of townhome floorplans, and live-work apartments. The community will have an integrated and thoughtfully designed clubhouse within one of the elevator-serviced apartment buildings, ground-level commercial space within multiple buildings, and a retail outparcel for a compatible and community-oriented user.
The design team includes FK Architecture, Beasley & Henley Interior Design, Harris Civil Engineers, Todd McCurdy Landscape Architect, and more. The community expects to deliver its first units in Fall 2025 with completion in 2026.

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