May 7, 2020
NY-based White Eagle Property Group entered the Triad market with the acquisition of Brassfield Park, a 336-unit multifamily community in in Greensboro, NC, from Chaucer Creek for $49 million. The Class A garden apartment community spans 326,828 square feet at 1921 New Garden Rd.
Built in 1997 with nine-foot ceilings, the apartment amenities include gas fireplaces, private outdoor spaces, high-end finishes, updated lighting and on-site storage options. Community amenities include a state-of-the-art fitness facility, resort-style pool with gazebo area, outdoor grills and kitchen area with gas grill, 24-hour package receiving lockers, pet care stations, dog park, tennis court and children’s play area.
NKF’s Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon represented the seller. NKF’s Multifamily Capital Markets Debt and Structured Finance Group’s Josh Davis and Chris Caison worked on behalf of the buyer to secure a $39,110,000 acquisition loan from Freddie Mac.
For comments, questions or concerns, please contact Dennis Kaiser