Capstone recently brokered the sale of Twin City Townhomes in Winston-Salem, NC. The 204-unit property was constructed in 1970 and was 77% occupied at the time of sale. The buyer was attracted to Twin City due to the immediate upside in rents, which had been below market in order to increase occupancy. Additionally, the seller had done much of the major capital expenditure work; therefore, leaving the buyer to focus capital on some remaining exterior cap ex, minor interior renovations, and sub-metering to enhance NOI and asset value. Contact the Twin City brokerage team to learn more:
Brian Ford
Managing Partner
direct: 704.962.9462
office: 800.746.3175 ext. 702
brian@capstoneapts.com
Bryse Toothaker
Senior Advisor
direct: 704.727.2926
office: 800.746.3175 ext. 703
bryse@capstoneapts.com
Austin Green
Senior Advisor
direct: 704.962.7454
office: 800.746.3175 ext. 701
austin@capstoneapts.com
Alex McDermott
Senior Advisor
direct: 704.533.4865
office: 800.746.3175 ext. 700
alex@capstoneapts.com
