GREENSBORO, NC—Capstone Apartment Partners has closed the $13,250,000 sale of The Lodge at Lakeshore: a 132-unit garden-style apartment community in southwest Greensboro, ideally located within two miles of several restaurants and retail outlets. The picturesque community consists of 10 three-story buildings situated around a fishing pond, with walking trails through a well-manicured landscape with mature trees.
Capstone sold the 15.03-acre property on behalf of the Greensboro-based seller, Signature Property Group, and procured the buyer, Triangle Real Estate of Gastonia/Southwood Realty, who is also North Carolina-based.
Triangle Real Estate of Gastonia/Southwood Realty owns several properties in the Triad area and saw The Lodge at Lakeshore as the perfect opportunity to continue expanding their North Carolina footprint. They plan to implement a value-add strategy by upgrading apartment interiors and improving the community’s amenities package.
The Capstone Apartment Partners transaction team was led by Austin Green, Brian Ford, Alex McDermott, and Caleb Troop.
“We have seen heightened investor interest in the Triad area as the market’s fundamentals have steadily improved over the last few years,” according to Green.
Built in 2006, The Lodge at Lakeshore features one- and two-bedroom apartments and was occupied at approximately 95% at the time of closing. The community’s amenities package includes an oversized pond with kayak rentals, grilling areas, fitness center, clubhouse, business center, car washing station, and an expansive one-acre pet park. Each apartment home features ceiling fans, washer/dryer hookups, and fully equipped kitchens with oak style cabinetry and double-basin stainless steel sinks.