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Brazos Residential Grooves to $41M Purchase of 1970s Community in Wilson
Dallas, TX-based Brazos Residential, LLC, has completed its $41-million acquisition of the Wilson Woods Townhomes in Wilson, NC.
The 1974-constructed, 376-unit property sits on 31 acres along Vineyard Drive about 40 miles east of Raleigh.
“The asset has been owned by the seller for over twenty-five years,” said James Roberts, managing partner and cofounder of Brazos Residential. “This type of long-term, privately owned property is very rare, especially in highly sought-after markets in NC.”
The community is the firm’s seventh NC acquisition this year and highlights the company’s investment strategy of purchasing value-add opportunities with significant operational upside in growing cities near well-established markets like Raleigh and Durham. “We are excited to reposition this asset and capitalize on its operational inefficiencies to maximize returns to our investor partners and improve the living experience of the tenants,” added William Hancock, managing partner and cofounder of Brazos Residential.
- ◦Sale/Acquisition
