Virginia Beach Firm Expands Presence in NC’s Top Rent Growth Market
VIRGINIA BEACH VA, MAY 27, 2022 – Featherstone Partners, through affiliated entities, has acquired Park at Aventino Apartments, a multifamily community in Greensboro, North Carolina. The property was acquired in an off-market transaction facilitated by Caleb Troop of Capstone, who represented the buyer and seller. The acquisition was capitalized in partnership with M Group Capital.
The 2001 built 240-unit asset adds to Featherstone’s existing market share in the Greensboro area, which now totals 4 multifamily assets. Park at Aventino is located in the high-growth area of southwestern Greensboro, near multiple key employers. Featherstone intends to renovate units and improve amenities at the property to provide a higher quality living experience for existing and future residents. The company commented on the acquisition, “given the volatility of the current market environment, we felt that expanding our presence in a market where we have real-time data that supports the business plan was the smart thing to do. We are very happy to add Aventino to our existing portfolio.” BH Management has been engaged to provide property management services. Featherstone Partners plans to continue to acquire assets strategically throughout the Southeastern and Mid-Atlantic United States on behalf of itself and its institutional investment partners.