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Atlanta & Southeast  + Southeast  + Apartments  |  September 5, 2019
David Cohen
By: David Cohen

Waterton Snags 298-Unit MF Community in Raleigh-Durham

National real estate investor and operator Waterton has acquired Manor Six Forks, a 298-unit multifamily property in the Millbrook submarket of Raleigh-Durham for an undisclosed price. The seller was not disclosed.

The five-story property includes a structured parking and a fully-occupied retail space on the ground floor, featuring a craft beer and wine outlet, nail salon, fitness studio and a pet care center. Waterton plans to upgrade the interior of the units and the lobby, clubroom and fitness center. The firm also plans to convert the pool back to its original saltwater use.

“Demand in Raleigh-Durham is strong due to favorable demographics and a diversified economy,” said Matt Masinter, senior vice president of acquisitions at Waterton. “Manor Six Forks offers considerable upside-potential, and is consistent with Waterton’s strategy of investing in assets that benefit from our value-add program to help them further compete within their markets.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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