CHARLOTTE, NC – Charlotte, NC based Exponential Equity announced its acquisition of LaDeara Crest Estates in Winston-Salem, NC. The property is located right in the heart of Winston-Salem, North Carolina.
The garden and cottage style property is located on Bowen Boulevard, adjacent to Winston-Salem’s regional Smith Reynolds airport, with simple access to New Wilkerson Road, just minutes away from Downtown Winston-Salem. The new owners intend to complete a deferred maintenance correction program and to maximize revenue generation through effective management.
The property benefits from an outstanding location just minutes from Winston-Salem’s downtown core, and is also located in a federally designated opportunity zone within Winston-Salem. Winston-Salem has a diverse and growing economy, with healthcare, manufacturing, retail trade, technology, construction, and finance & insurance comprising the largest sectors of the workforce.
Exponential Equity is bullish about the Winston-Salem market, as it is one of the strongest markets in the Southeast and throughout the entire country. The Southeast markets are experiencing a high growth period which should carry on for the foreseeable future with strong employment growth and increasing population.
“This is a fantastic acquisition for our investors. With LaDeara Crest, we have bought a best-in-class Tax Credit property which offers numerous community programs and amenities for its residents. As always, our focus is on buying at the right price, adding value, and at the same time offering fantastic service to our tenants, and this community provides a fantastic foundation for execution” says Hemal Badiani, Managing Partner with Exponential Equity.
The property will be managed by Trinity Multifamily, a professional property management company with an existing presence in the Winston-Salem market and a strong presence throughout North Carolina and the Southeast.

Powered by WPeMatico

NORFOLK, VA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of a 56-asset multifamily portfolio for $390 million. The portfolio contains well-maintained, single-tale workforce housing properties throughout the eastern United States. Image Capital, LLC, partnered with HGI on the transaction.
The portfolio consists of 5,490 units across five states. Approximately 70% of the properties are located in Florida and Ohio, where HGI already has a significant footprint. Other properties are located in Indiana, Kentucky and Pennsylvania.
HGI plans to invest $25 million in capital improvements and enhancements to the properties, including $3.6 million on unit renovations.
“The portfolio demonstrated strong performance amid the economic downturn resulting from the pandemic, maintaining high occupancies and rent growth, and presenting an attractive opportunity for HGI,” said Richard Litton, President, HGI. “This acquisition is indicative of our value-add approach and HGI’s ability to identify diverse and valuable opportunities in strong markets for our investors.”
Henry Bodek of Galaxy Capital served as broker for the transaction.

Powered by WPeMatico

ORLANDO, FL – Lincoln Property Company, with a regional office in Lake Mary, Florida, announced the start of pre-leasing at Legacy Universal, a 350-unit, Class A apartment community at 7488 Universal Boulevard. The luxury apartment community is located in the heart of the International Drive tourism district adjacent to the Lockheed Martin corridor and offers studio, one, two, and three-bedroom apartment homes. Construction is underway and occupancy is slated to start in Summer 2021.
As the developer of Legacy Universal, we are pleased that this project will offer top tier access to the area s largest employers and an abundance of world-class shopping, as well as Orlando s famed Restaurant Row, said Jon Wood, Legacy Partners Senior Managing Director. We re excited to showcase Legacy Partners nationwide brand of development and to build a premier apartment community that many will be proud to call home.
Legacy Universal s community amenities will include: Luxury Courtyard Heated Saltwater Pool with Cabanas & Summer Kitchen, Pet-Friendly Atmosphere with Bark Park & Pet Spa, SkyDeck Game Room, Suite Level Wellness Lounge, Internet Café with Co-Working Stations, On Site Health & Fitness Center with Spin Studio, and Relaxation Lounge Overlooking Pool.
Apartment home features will include: Smart Latch Mobile Home Entry System, Quartz Countertops with Tile Backsplash, Energy Efficient Stainless-Steel Appliances, 10-Foot Ceilings, and Soaking Tubs & Glass Enclosed Showers.
Legacy Universal is within a small walk to Icon Park, home to the Orlando Wheel with over 40 venues including world-wide cuisines and boutique shops and is also nearby Orlando s renowned Restaurant Row. This apartment community will offer stunning skyline firework views of Universal Orlando.

Powered by WPeMatico