Goodegg Acquires Winston-Salem Community
The purchase was made via an investment vehicle.
Goodegg Investments acquired the apartment community Crowne Club Apartments near Winston-Salem, N.C., through its Goodegg Wealth Fund II and Goodegg Growth Fund III.
Crowne Club is a 250-unit class B+ property and is the second and final property acquired through the Goodegg Wealth Fund II. The property, completed in 1995, is in excellent physical condition, according to the buyer.
The community is located near the Atrium Health Wake Forest Baptist Medical Center in an affluent submarket of Winston-Salem. The area boats an affordable cost of living and strong job growth, anchored by Wake Forest University and several large banking and medical employers.
Growing market
The area’s low unemployment and strong net migration rates are also contributors to its growth. The market has limited new supply with only three market-rate apartment communities slated in the entire Winston-Salem market over the coming 24 months.
Goodegg’s Fund II acquired Encore Metro at Millenia, a 215-unit Class A multifamily asset in Orlando, Fla., in December 2023.
Goodegg Growth Fund III was the firm’s third Regulation Crowdfunding offering, allowing both accredited and non-accredited investors to participate at a much more accessible minimum investment level.
Early this year, Goodegg acquired Encore Metro at Millenia, a Class A community in Orlando, Fla.
