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Trion Properties Enters Southeast with Off-Market Fayetteville Deal
Trion Properties has entered the Southeast market with the acquisition of Crescent Commons, a 288-unit multifamily community in Fayetteville, NC. The West Hollywood, CA-based private equity real estate firm acquired the property off-market for $35 million.
“We’ve been evaluating opportunities throughout the Southeast for some time as we aim to strategically expand our portfolio in order to bring high-quality rental units to submarkets throughout the country experiencing strong demand,” said Trion managing partner Max Sharkansky.
He continued, “Crescent Commons is an ideal well-performing yet unrenovated asset located in North Carolina, a state seeing some of the country’s highest rates of in-migration, which have been accelerated by the pandemic. This acquisition will allow us to create significant value through implementing our proven renovation and operations strategies, which we’ve successfully executed in Western markets including California, Oregon, and Colorado over the past several years.”
- ◦Sale/Acquisition
