Arbor Creek Apartments

Arbor Creek Apartments is a well-located, 347 unit multifamily community situated at the highly desirable infill border of Raleigh and Cary, NC. The property enjoys strategic proximity—within a 10-minute drive—to three transformative mixed-use developments: the South Hills Mall Redevelopment, the Lenovo Center Entertainment District, and Fenton. Further enhancing the investment outlook, the surrounding Blue Ridge Corridor has experienced over $2.4 billion in new development since 2016. In addition, the City of Raleigh has committed more than $3.6 billion in transportation infrastructure improvements to support ongoing submarket expansion and connectivity.

Given the strong growth of the area, Arbor Creek is well positioned for renovations with 39% of the property in classic condition. Current ownership has renovated 135 units which are achieving north of $250 premiums compared to classic units providing a proven renovation story. With over $8.9M in CapEx spent since 2017, the asset provides investors minimal deferred maintenance, allowing the next owner to focus on revenue driving enhancements to the property. Given the strong demographics with the average household income north of $100,000 in a three mile radius, the opportunity is well positioned to take advantage of the strong surrounding demographics and development activity to push rents through renovations and the improvement of the location.