Evolve Deep River

JLL, as exclusive advisor, is pleased to present for sale Evolve Deep River (the “Property” or “Offering”), a 264-unit, 2025-vintage garden-style multifamily community in the Greensboro-High Point MSA, professionally managed by Hawthorne Residential Partners. The Offering provides investors with the opportunity to acquire a newly stabilized asset positioned to benefit from strong operating momentum, limited future supply, and a favorable long-term growth outlook across the Piedmont Triad.

Through Summer 2026, Deep River averaged 18 move-ins per month over a twelve-week period, bringing occupancy to north of 95%. Since opening, concessions have declined 41% while effective renewal increases are averaging 20.6%, driven by concession burn-off rather than face rent reductions. Renewal retention exceeds 65%, and the asset is currently tracking approximately 90% retention on upcoming November lease expirations. The site also represents one of the last undeveloped parcels along Highway 68, with only one competing property currently in lease-up.

The Property is strategically located within the Carolina Core, one of the fastest-growing advanced manufacturing corridors in the Southeast. More than $30 billion of announced investment and over 70,000 projected jobs are expected across the region, led by transformational projects including JetZero’s $4.7 billion aircraft manufacturing campus, Toyota’s $13.9 billion battery manufacturing facility, and the continued expansion of Boom Supersonic, HondaJet, and Wolfspeed. Collectively, these investments are driving significant population growth, attracting a highly skilled workforce, and further establishing the Triad as a national hub for aerospace and advanced manufacturing. High Point University further strengthens local demand fundamentals, generating approximately $850 million in annual economic impact while enrolling students from all 50 states and supporting long-term growth through more than $2 billion of campus investment since 2005.

These economic drivers are supporting some of the strongest apartment fundamentals in the Triad, with Greensboro-High Point emerging as a regional leader. At the same time, renting at Deep River remains meaningfully more affordable than homeownership throughout the submarket, supporting long-term renter demand and future pricing power. Combined with its proven lease-up performance, institutional-quality construction, limited competitive supply, and proximity to one of the nation’s most significant advanced manufacturing growth corridors, Evolve Deep River offers investors a compelling opportunity to acquire a newly stabilized asset positioned for continued growth and long-term value creation.