Waypoint Buys NC Apartments

The company acquired the 214-unit Capital Creek at Heritage, located in Raleigh's submarket Wake Forest, from TWO Capital Partners for $36.4 million.
Capital Creek at Heritage

Waypoint Residential has acquired Capital Creek at Heritage, a new Class A apartment community in Raleigh’s submarket of Wake Forest, N.C. The firm purchased the property from TWO Capital Partners, the property’s developer, for $36.4 million, according to Yardi Matrix. The sale was subject to a $25.5 million loan held by Freddie Mac.

“Raleigh-Durham is a dynamic and thriving MSA, and one of our highest ranked markets due to its outstanding demographic profile and fundamentals,” said Jeremy Pemberton, chief acquisition officer, Waypoint Residential. “We expect to continue to be very productive in the area for both acquisitions and development projects.”

Luxurious Amenities Package

Located at 1910 Capital Creek Drive, the 214-unit community was completed in 2017 and is currently 79.9 percent occupied as of March 2018, according to Yardi Matrix. Floorplans are offered in one-, two- and three-bedroom units ranging from 740 to 1,500 square feet, across six garden-style buildings.

The pet-friendly Capital Creek at Heritage offers interior features such as walk-in closets, ceiling fans, nine-foot ceilings, washer/dryers, stainless steel appliances, Nest thermostats, wood-like flooring, white Mesa cabinets with brushed nickle hardware, private balcony/patios, expansive kitchens with designer lighting and large pantries, wine racks, subway tiled backsplashes, charging stations, double vanities and built-ins. Residents have access to amenities including:

  • attached and detached garages
  • outdoor summer kitchen
  • picnic areas
  • cyber lounge
  • expansive pool deck
  • fireplace
  • 2,000-square-foot poolside sports club
  • resort-style saltwater pool with cabanas
  • game room
  • Wi-Fi
  • car care center
  • gated dog park
  • nature walking trails

The community is situated 15 miles north of downtown Raleigh within the Heritage at Wake Forest master-planned community. Capital Creek at Heritage is within close proximity to multiple schools, restaurants, trails and bike paths, swim and tennis clubs, parks, retail and golf courses. The Research Triangle Park, as well as other employment and entertainment areas, are also located nearby.

Image courtesy of Waypoint Residential