Silicon Valley Investment Firm Acquires 646-Unit Atlanta Multifamily & Redevelops Raleigh-Durham Retail

PR Newswire

SARATOGA, Calif., April 16, 2019 /PRNewswire/ -- Wilson Investment Properties partnered with Liquid Capital Real Estate Partners to acquire Forest Cove, a 646-unit apartment complex in Doraville, GA, 10 miles northeast of Atlanta. The companies jointly acquired the Fields at Peachtree Corners, a 490-unit apartment complex in Norcross, GA only four months ago. The team's strategy is to drive rent growth through upgrading the interiors, repainting the entire exterior of the property, adding to the already best in class amenities, and delivering first class customer service to tenants.

Liquid Capital and Wilson Investment Properties selected the Atlanta metro due to a number of factors, including favorable tax benefits, low cost of living, and access to transportation, infrastructure and education. Atlanta is a highly desirable location and has the third largest concentration of Fortune 500 headquarters in the US. Rapid population and economic growth, a flourishing job hub, and a wealth of new development in and around Atlanta's major business districts make Forest Cove highly attractive for the multifamily investor's portfolio.

On the same date of closing on Forest Cove, Wilson Investment Properties also partnered with Capitol Commercial to purchase Booker Boutique Retail, a boutique retail redevelopment project in Durham, NC.

The partnership acquired an existing 12,000 sq ft retail building and adjacent lot, and will expand and redevelop it into a 17,000 sq ft trendy neighborhood gathering center. Entitlement is already complete, with ground breaking scheduled for mid-May.

This center will feature local service industry tenants, including local restaurants, breweries, a dentist, and a veterinary clinic.

The South Square mixed-use project (less than a mile from the site) is also underway and going up fast with the elevator towers already blocked up and crane in place. This huge mixed-use project will generate significant activity and high value for the neighborhood with over 262 residential units, 55,000 of retail and office and 30,000 sf for O2 Fitness gym.

Durham is located in the Research Triangle (term originally coined in the 1950's from being home to numerous high-tech companies), which includes North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill, located in Raleigh, Durham, and Chapel Hill. The Research Triangle Park is home to over 200 companies (including the second-largest IBM operation globally, Cisco, and NetApp) employing over 60,000 workers.

"These offerings allow our investors to diversify their investment portfolios outside of stocks and Wall Street," Wilson Investment Properties principal Tom K Wilson said. "Many of our clients love that they can invest directly in an institutional grade product for a fraction of the cost by utilizing the expertise of an experienced syndicator." Investors will be receiving attractive yields and immediate cash flow distributions.

Liquid Capital is a leading multifamily investment company based in New Jersey that specializes in repositioning underperforming apartment communities in strong markets. This is the fifth major acquisition they've made in Atlanta in the last year and a half, totaling just under 2,000 units.

Capitol Commercial specializes in developing multifamily and commercial real estate in the Raleigh-Durham market. The principals are Raleigh born and raised, with 26 years of commercial real estate development experience predominantly in the Raleigh-Durham market each.

Wilson Investment Properties, founded in 2003 in Silicon Valley, is a provider of commercial real estate syndications in industrial, office, retail, land development multifamily, and assisted living.

Contact: Tom Wilson408-867-1867
[email protected]

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