CLEVELAND, Aug. 9, 2022 /PRNewswire/ -- Legacy Capital Partners ("Legacy"), a Cleveland, OH-based national real estate investment firm and Fulton Street Partners ("Fulton Street"), a Raleigh, NC-based multifamily investment firm, recently acquired Hilltop House Apartments ("Hilltop House"), a 169-unit apartment community in a premier infill location with a walkability score of 87 out of 100 in Winston-Salem, NC.
The original property was built in 1962 as a hotel, and was converted to multifamily in 2012. Two additional phases were built in 2012 and 2014. The interior units are all updated, and the joint venture plans to further enhance the community by adding a tech package to each unit and improving the common area and amenity spaces, including the fitness center and outdoor pool. The property is adjacent to a 0.5-mile trail that leads to the heart of downtown Winston-Salem in one direction and to a number of parks in the other. It is also situated within a mile of the Innovation Quarter, a 330-acre public-private innovation district focused on research in biomedical science and information technology.
Winston-Salem is part of the Piedmont Triad, consisting of Greensboro, Winston-Salem, and High Point, and is known as a major manufacturing and transportation hub in the southeast, and now a growing healthcare and technology region. "Hilltop House is a great asset that offers the convenience of urban living with its proximity to job centers and entertainment, along with easy accessibility to ample green space. We look forward to improving upon the resident experience there with an active and knowledgeable partner," said David St. Pierre, Co-Founder and Executive Director at Legacy.
Legacy is a real estate private equity firm founded in 2004 by Mitchell C. Schneider and David B. St. Pierre. Since its inception, Legacy has invested in 77 properties in 18 states with a total cost basis of $2.21 billion. Since October 2009 Legacy has invested exclusively in for-rent multifamily properties and is actively deploying capital out of its discretionary Funds. For more information about Legacy Capital Partners, visit www.lcp1.com.
Fulton Street is a diversified multifamily investment firm focused on acquiring, repositioning, and operating rental housing properties throughout the Mid-Atlantic and Southeast. Headquartered in Raleigh, NC, Fulton Street also has offices in Washington, DC and Charleston, SC, and has completed 6 multifamily acquisitions in the past year. For more information about Fulton Street Partners, visit www.fulton-street.com.
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SOURCE Legacy Capital Partners