RALEIGH, NC - National multifamily developer Wood Partners closed on Alta Watkins in Morrisville, North Carolina in partnership with PGIM, the world's second largest real estate investment manager with $218 billion in gross assets under management and administration. The 357-unit multifamily community will break ground this month and is slated to open by the end of 2028. Sarah Godwin and Karl Hudson with Foundry Commercial represented the seller in the transaction.
"Alta Watkins' proximity to the region's growing life sciences hub positions the community as an ideal home base for professionals, students and families alike," said Caitlin Shelby, Managing Director with Wood Partners. "With its impressive line-up of amenities, residents will live in an oasis that combines resort-style living with easy access to the Triangle's leading employers and institutions."
Alta Watkins's amenities include a resort-level pool, three outdoor courtyards, outdoor games, a pet spa, a state-of-the-art fitness center with a sauna recovery lounge, golf lounge and podcast lounge. Additionally, the property uniquely offers an on-site retail market, rentable offices designed for remote work, event space and short-term stay units for guests.
Alta Watkins features a mix of one-, two-, and three-bedroom layouts with stainless steel appliances, an in-unit washer and dryer, quartz countertops, custom cabinetry, designer wood-style plank flooring and walk-in closets. The community is located in the heart of the Triangle, wedged between Research Triangle Park and Perimeter Park. Alta Watkins is adjacent to Wake Tech's new community college campus, and around the corner from the Spark Life Sciences community and Pathway Triangle Campus.
This will be Wood Partners' third project to commence construction in the Raleigh-Durham area in the last year. Most recently, the firm broke ground on the 336-unit Alta Bethpage in Durham, North Carolina, in June 2025 and the 312-unit Alta Durham Summit in Durham, North Carolina, in September 2025.