Environs Lofts


Overview

Asset Size: 58 units
Location: Chapel Hill, NC
Product Type: Multifamily
Strategy: Income & Growth

Opportunity & Strategy

  • Special Situation – Fractured sale process led to ability to acquire asset significantly below guidance pricing
  • Motivated Seller – Broken seller partnership dynamic (capital partner winding down operations) created operational inefficiencies resulting in slower-than-anticipated lease up to stabilization
  • Differentiated Asset – Best-in-class asset located in extremely high barrier / anti-growth market
  • Fortress Location – Centrally located with easy access to regional arterials, public transportation and walkable retail amenities
  • Favorable Competitive Dynamic – Complexity of owners association narrowed buyer pool significantly