Eller Capital Purchases Apartment Community in Winston-Salem for $16.4M

Villages at Wake Forest now features 270 beds within 69 units, each with three or four bedrooms set within cottage-style buildings. Community amenities include a pond, outdoor lounge area and a fire pit.

WINSTON-SALEM, N.C. — Eller Capital Partners has purchased Ashton Oaks, a 288-unit apartment community in Winston-Salem, for $16.4 million. The seller was not disclosed. Built in 1988, the property offers one- and two-bedroom layouts and is situated within one mile of Wake Forest University’s campus.

Chapel Hill, N.C.-based Eller Capital plans to renovate Ashton Oak’s exteriors, build new amenities and upgrade the interior finishes. Affiliate firm Eller Residential Living will manage the property and oversee the construction project.

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