GREENSBORO, NC—Capstone Apartment Partners has brokered the $9,941,000 sale of Chapel Walk: a 128-unit apartment community in north Greensboro. The garden-style community is comprised of 16 two-story buildings, situated just a mile from desirable grocery and dining.
Capstone sold the 12.88-acre property on behalf of the Greensboro-based seller, Signature Property Group, and procured the buyer, Inman Equities, who is based out of Atlanta, GA.
Inman Equities saw Chapel Walk as the perfect opportunity to continue expanding their presence in North Carolina. They plan to implement a value-add strategy by renovating the leasing office, improving amenities spaces, and upgrading apartment interiors.
The Capstone Apartment Partners transaction team was led by Austin Green, Brian Ford, Alex McDermott, and Caleb Troop.
“The Triad area has seen steady growth with jobs and population. Investors have taken notice and are looking for opportunities across all asset classes within the region,” according to Green.
Built in 2001, Chapel Walk features one- and two-bedroom apartment homes and was occupied at approximately 90% at the time of closing. The community’s amenities include a business center, leasing office, fenced pet park, car washing station, and grilling area. Each unit features ceiling fans, washer/dryer hookups, and fully equipped kitchens with wood cabinetry and double-basin stainless steel sinks.