 |
| Andrea Howard |
CHARLOTTE, NC, Jan. 5, 2021 – JLL Capital Markets announced today that it has closed the $56.2 million sale of the Steeplechase Apartments and $17.8 million sale of the Park Forest Apartments, both located in Greensboro, North Carolina.
JLL
worked on behalf of the seller, Hudson Capital Properties, to complete the
sales to two separate buyers. Steeplechase Apartments sold to Florida-based
Advenir, and Park Forest to New Jersey-based Eminent Capital.
 |
| John Currin |
Steeplechase
Apartments, located at 1338 Adams Farm Pkwy, consists of 420 one-, two- and
three-bedroom units, totaling 451,080 rentable square feet.
Units
feature in-home fireplaces and vaulted ceilings, with select units including a
screened-in patio or porch, in-unit washer and dryer and a stainless-steel
appliance package.
Community
amenities include outdoor barbecue grills, fitness center, laundry room, resort-style
pool, playground and a tennis court.
Park
Forest Apartments, located at 3214 Brassfield Rd., totals 135,749 rentable
square feet and consists of 151 one- and two-bedroom units.
The
boutique garden community features a resort-style swimming pool with a sundeck,
two grilling areas, picnic pavilions, a business center, 24-hour fitness center
and a lounge with complimentary coffee bar.
 |
| Jeff Glenn |
Greensboro is part of the Piedmont Triad, one of the largest metropolitan statistical areas (MSA) in North Carolina with a population of over 1.6 million, which includes Greensboro-Winston/Salem-High Point.
The Piedmont Triad has a deep history in
being a national leader in textiles, furniture, aviation, logistics, laboratory
sciences and medicine; with recent economic growth in the manufacturing,
grocery and distribution.
Continuously growing in population due to
being a highly-amenitized and affordable city, there is currently 850,000
square feet of construction proposed downtown.
The
JLL Capital Markets team representing the seller was led by Andrea Howard,
John Currin, Jeff Glenn, Allan Lynch and Caylor Mark.
Howard
said, “Having sold both assets to the Hudson Capital team in 2015, it was
exciting to see their stewardship of Steeplechase and Park Forest culminate in
a tremendously successful sales process. Hudson perfectly positioned the
value-add properties to capitalize on an increasingly competitive Greensboro
sales environment.”
 |
| Allan Lynch |
Currin
added, “With muted future supply and continued population and job growth in the
Triad, both Advenir and Eminent Capital will enjoy outsized returns for years
to come.”
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment sales advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For
more news, videos and research resources on JLL, please visit our newsroom.
About
JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
 |
| Caylor Mark |
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020.
JLL is the brand name, and a
registered trademark, of Jones Lang LaSalle Incorporated.
About Hudson Capital Properties
Founded in 2009, Hudson Capital Properties (HCP) is a multifamily real estate investment and development company.
 |
| James S. Cohen |
Led by James S. Cohen and Robert B. Cohen II, the HCP team has developed a track record of value creation through diligent processes and a hands-on asset management approach.
With in-house expertise in development, construction, asset
management and finance, HCP has proven its ability to source opportunities,
close transactions quickly and efficiently manage and perform large scale
improvements on its properties.
CONTACT:
 |
| Robert B. Cohen |
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
No comments:
Post a Comment