Greensboro, NC- Sandhurst Apartment Management (“SAM”) has announced the acquisition of Allerton Place Apartments, a 228-unit multi-family apartment complex built in 1997. The property is located west of downtown Greensboro near Piedmont Triad International Airport. The acquisition closed in May 2019.
Allerton Place consists of 15-three story buildings and a one-story clubhouse. The property is situated within the prestigious Northwest School District and close to I-40, Hwy 68 and Bryan Blvd. with dining, shopping, and entertainment options just minutes away.The community features spacious one, two, and three-bedroom apartment homes with your choice of deck or sun room. Unit amenities include gas fireplaces, nine-foot or vaulted ceilings and washer/dryer connections. Allerton Place features a pool, playground, fitness center, picnic area, clubhouse, sports court, clothes care center, walking/jogging trail and public golf course access. SAM will be adding a grilling pavilion to the property as well as Nest Thermostats to each unit.
SAM is pleased to purchase its third asset in North Carolina and its first in Greensboro MSA. With easy access to local highways, strong retail and dining presence and the close proximity to major employers, Allerton Place is situated in an excellent location. As Greensboro has a growing population base and a minimal new supply of apartments forecasted within the submarket, this acquisition proves to be consistent with our strategy of buying assets located in growing submarkets with strong demographics, excellent school systems and steady economic growth.
ABOUT SANDHURST APARTMENT MANAGEMENT (“SAM”)
Sandhurst Apartment Management is a forward-thinking, time tested group that provides a wholly integrated package of property management services, including on-site asset management, construction supervision and due diligence. Our success is rooted in our thoroughly vetted, value-add property investments that provide high-quality rental apartments in good school zones with attentive, hands-on-property management. Sandhurst owns and manages assets in 9 states totaling almost 10,700 units.