DENVER, CO - BMC Investments (“BMC”), a Denver-based vertically integrated real estate firm, continues to expand its national multifamily portfolio with its purchase of the Sterling Town Center. In partnership in Turnbridge Equities and Abacus Capital, BMC Investments purchased the 339-unit community from American Landmark.
The value-add community, located at 7880 Triangle Promenade Drive in Raleigh, North Carolina, marks a significant milestone as BMC enters the North Carolina market.
“This acquisition represents a key step in BMC’s long-term growth strategy as we enter the fast-growing Raleigh market,” said Matt Joblon, co-founder and CEO of BMC Investments. “Sterling Town Center provides a strong foundation for our presence in North Carolina and aligns with our value-add investment strategy.”
Built in 2013, Sterling Town Center features a mix of three- and four-story buildings and offers a robust amenity package, including a resident lounge, gym, swimming pool and playground. As part of its investment strategy, BMC and its partners will implement an exterior capital improvement plan that includes painting, landscaping, parking lot enhancements and upgrades to community amenities. A portion of the interior units also will be renovated.
Sterling Town Center is well-positioned in one of Raleigh’s most dynamic submarkets, offering residents convenient access to retail, dining and major employment hubs.
Freddie Mac provided financing for the purchase.
About BMC Investments: BMC Investments is a highly disciplined, vertically integrated real estate investment firm generating industry-leading returns through acquisition, development and management of various property types throughout the U.S. BMC focuses its investment strategy on creating long-term value in its assets and generating strong risk-adjusted returns. The company is able to outperform its peers by procuring attractive investments in its areas of focus; utilizing a measured and disciplined investment process with rigorous focus on risk management; leveraging best-in-class operating systems and processes; and attracting, retaining and developing great people. To learn more, visit www.bmcinv.com