CHARLOTTE, NC – Exponential Equity, based in Charlotte, NC, announced the acquisition of LaDeara Crest Estates in Winston-Salem, NC. The property is 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 Smith Reynolds Regional Airport, with easy access to New Wilkerson Road, just minutes from downtown Winston-Salem. The new owners intend to complete a program to correct the delayed maintenance and maximize revenue generation through effective management.
The property benefits from a great location just minutes from Winston-Salem town center and is also in a federal government designated opportunity zone in Winston-Salem. Winston-Salem has a diverse and growing economy, with healthcare, manufacturing, retail, technology, construction, and finance and insurance making up the largest sectors of the workforce.
Exponential Equity is bullish on the Winston Salem market as it is one of the strongest markets in the Southeast and across the country. The southeastern markets are experiencing a period of high growth that should continue for the foreseeable future with strong employment growth and a growing population.
"This is a fantastic acquisition for our investors. With LaDeara Crest, we have acquired a first-class tax credit that offers residents numerous community programs and amenities. As always, our focus is on buying at the right price. This community offers added value and great value at the same time Service for our tenants. It provides an excellent foundation for execution, "says Hemal Badiani, Managing Partner at Exponential Equity.
The property is managed by Trinity Multifamily, a professional real estate management company with an existing presence in the Winston Salem market and a strong presence in North Carolina and the Southeast.
Source: Exponential Equity