Capstone Apartment Partners Brokers North Carolina Sale

Austin Green, Brian Ford, Alex McDermott and Caleb Troop represented the seller and procured the buyer. The new owner intends to renovate the 128-unit community.
Chapel Walk.
Chapel Walk. Image courtesy of Capstone Apartment Partners

Signature Property Group has sold the 128-unit Chapel Walk in Greensboro, N.C., to Inman Equities for $9.9 million. Austin Green, Brian Ford, Alex McDermott and Caleb Troop from Capstone Apartment Partners worked on behalf of the seller and procured the buyer. The transaction comes just days after the brokerage company closed another Greensboro sale.

Located at 1370 Lees Chapel Road, the garden-style community is close to several retail and dining venues. According to Green, the Triad area has seen an increase in investment interest due to the steady job and population growth. Completed in 2001, the 16 two-story buildings consist of one- and two-bedroom apartments. All units feature ceiling fans, washer/dryer hookups and fully equipped kitchens with wood cabinetry and double-basin stainless steel sinks. Common-area amenities include a business center, fenced pet park, car washing station and grilling area.

At the time of sale, the community was roughly 90 percent occupied. The new owner plans to implement an improvement program by renovating the leasing office and amenity spaces, as well as upgrading apartment interiors.

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com.