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Atlanta & Southeast  + Southeast  + Apartments  |  February 2, 2021
David Cohen
By: David Cohen

Beacon Real Estate Acquires 260-Unit Raleigh Apartment Property

Commercial real estate firm Beacon Real Estate Group has acquired Ardmore Heritage, a 260-unit apartment community in the Wake Forest submarket of Raleigh, N.C. The sales price was not disclosed.

Built in 2014, the property will be renamed The Pointe at Heritage. The community has experienced above market rent growth over the past year, driven by increasing renter demand in Wake Forest and a lack of new construction in the area. Beacon plans to update the property with interior and exterior improvements to meet market demands.

Watson Bryant of Cushman & Wakefield represented the seller, the original developer, in the transaction. The off-market transaction closed on January 22. With the acquisition, Beacon now owns several multifamily properties in the Research Triangle region.

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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