456-unit portfolio in Greensboro, NC acquired by VA firm
VIRGINIA BEACH VA, NOVEMBER 3, 2020 – Featherstone Partners, through affiliated entities, has acquired three multifamily properties in Greensboro, North Carolina – Madison Woods Apartments, Terrace Oaks Apartments, and Terrace at Olde Battleground Apartments. The combined portfolio of 456 units is situated in the western side of Greensboro, near major medical, logistics, and aircraft employers. Featherstone is excited to have selected Greensboro-based Hawthorne Residential Partners as its property management partner at the three communities. With a substantial capital improvement plan to be deployed, Featherstone intends to reposition all three assets with enhanced amenities and ontrend unit interior renovations. Managing partner and principal Chuck Patty commented that the acquisition is “a bellwether of Featherstone Partners’ growth to come”. Since its inception in late 2019, Featherstone Partners has acquired two Virginia multifamily properties, now expanding their holdings into the southern neighboring state with this latest acquisition.