The Reserve at Campbell's Creek
- Location: Farm Pond Neighborhood, Charlotte, NC
- Style: Three-Story Garden Multifamily Campus
- Acquired: 2Q17
- Opportunistic Reposition
- We acquired the asset in a highly distressed state with over 600 violations, environmental damage, and approximately 40% occupancy. We immediately sprung into action, beginning to renovate, reposition, and amentize the property which had been severely neglected and fallen behind competitiors. We rebranded the property to "Reserve at Campbell's Creek" from "Woodscape" which was an outdated homage to the property's original wood exterior. Located only 20 minutes from CBD Charlotte, and in the path of urban renewal, rents are in some cases 50% + below market. Post stabilization we plan to refinance the the property with long-term agency debt, returning equity to our investors.