Source: Brazos Residential
WILSON, NC - Brazos Residential, a Dallas-based real estate private investment firm specializing in multifamily investments, announced the $41M acquisition of the Wilson Woods Townhomes located in Wilson, NC. The transaction marks the firm's tenth acquisition in 2022.
Constructed in 1974, Wilson Woods Townhomes is situated on an expansive 31 acres at 1706 Vineyard Dr. in Wilson, NC, about 40 miles from eastern Raleigh. The community has 376 units and presents a desirable combination of generous one, two, and three-bedroom floor plans, with an average unit size of over 1,000 square ft.
"Wilson Woods has an exceptionally unique story," explains James Roberts, Managing Partner, and Cofounder. "The asset has been owned by the seller for over twenty-five years. This type of long-term, privately owned property is very rare, especially in highly sought-after markets in North Carolina."
The community is the firm's seventh North Carolina acquisition this year and highlights the company's investment strategy of purchasing value-add opportunities with significant operational upside in growing cities near well-established markets like Raleigh-Durham.
"This investment continues to support our thesis of targeting strong emerging markets with immense potential. Given its proximity to Raleigh-Durham, the property provides strategic synergies to Brazos' expanding portfolio in eastern North Carolina," proclaims William Hancock, Managing Partner, and Cofounder. "We are excited to reposition this asset and capitalize on its operational inefficiencies to maximize returns to our investor partners and improve the living experience of the tenants."