CHARLOTTE, NC - Charlotte, NC based Exponential Equity announced its acquisition of LaDeara Crest Estates in Winston-Salem, NC. The property is located right in the heart of Winston-Salem, North Carolina.
The garden and cottage style property is located on Bowen Boulevard, adjacent to Winston-Salem's regional Smith Reynolds airport, with easy access to New Wilkerson Road, just minutes away from Downtown Winston-Salem. The new owners intend to complete a deferred maintenance correction program and to maximize revenue generation through effective management.
The property benefits from an outstanding location just minutes from Winston-Salem's downtown core, and is also located in a federally designated opportunity zone within Winston-Salem. Winston-Salem has a diverse and growing economy, with healthcare, manufacturing, retail trade, technology, construction, and finance & insurance comprising the biggest sectors of the workforce.
Exponential Equity is bullish about the Winston-Salem market, as it is one of the strongest markets in the Southeast and throughout the entire country. The Southeast markets are experiencing a high growth period which should carry on for the foreseeable future with strong employment growth and increasing population.
"This is a fantastic acquisition for our investors. With LaDeara Crest, we have acquired a best-in-class Tax Credit property which offers numerous community programs and amenities for its residents. As always, our focus is on buying at the right price, adding value, and at the same time offering great service to our tenants, and this community provides a great foundation for execution" says Hemal Badiani, Managing Partner with Exponential Equity.
The property will be managed by Trinity Multifamily, a professional property management company with an existing presence in the Winston-Salem market and a strong presence throughout North Carolina and the Southeast.