Virginia Beach Firm Acquires 256 Multifamily Units in Raleigh/Durham
VIRGINIA BEACH VA, JULY 15, 2021 – Featherstone Partners, through affiliated entities, has acquired Meriwether Place, a multifamily community in Durham, North Carolina. The 256-unit asset is situated just north of I-85 and less than a mile away from Duke Regional Hospital and many other key area employers. Featherstone has selected Drucker & Falk as its property management partner. Featherstone intends to reposition the assets with enhanced amenities and on-trend unit interior renovations along with operational improvements through new management. The company commented on the latest portfolio addition, “we are very excited to expand the portfolio and be in such an amazing market like Raleigh/Durham. We had a goal in mind for our first year and this acquisition put us over the top.” Since its first acquisition in 2020, Featherstone Partners has acquired over $100M in total capitalization. The coastal Virginia firm plans to continue to expand its ownership within the Mid-Atlantic and Southeastern markets.
