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Partners Acquire 234 Units in NC, Plan Upgrades
ROSS Management Services has teamed with Cedar Grove Capital to snag the Colonial Village Apartments at 1010 Oak Grove Rd. in Winston-Salem, NC. The partners paid $8.2 million to Colorado seller Interurban for the asset, which it has already renamed Silas Creek Apartments.
ROSS, headquartered in Bethesda, MD, will handle management of the asset. The partners plan management upgrades. The new owners will also step up marketing and advertising efforts.
The property consists of one-, two- and three-bedroom floor plans, ranging from 676 to 1,120 square feet. Amenities include a 24-hour fitness center, business center, laundry facilities and a playground.
- ◦Financing
- ◦Sale/Acquisition
