Brazos Residential has acquired a 376-unit community in Wilson, N.C., for $41 million, according to Wilson County public records, financing the purchase with a $34.7 million loan from Arbor Realty Trust. The note carries an August 2025 maturity date. The seller, a private investor, had owned the property for more than 25 years.
Wilson Woods Townhomes marks Brazos’ 10th acquisition and the seventh North Carolina purchase so far this year. The firm’s portfolio adds up to 1,700 units across the Sun Belt.
Built on 31 acres at 1706 Vineyard Drive, Wilson Woods encompasses one-, two- and three-bedroom floorplans with an average unit size of more than 1,000 square feet. Completed in 1974, the pet-friendly property features various amenities such as a pool, playground and on-site laundromat.
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The community is roughly 3 miles north of downtown Wilson in the Wilson Woods neighborhood, some 50 miles east of Raleigh, N.C. Several shopping and dining options are less than 2 miles west, alongside Highway 42.
James Roberts, managing partner & co-founder of Brazos Residential, stated in prepared remarks that this type of privately owned asset is scarce in highly sought-after North Carolina markets. Managing Partner & Co-founder William Hancock added that they intend to reposition the property and capitalize on its operational inefficiencies to maximize returns and improve residential experience.