Northmarq Secures $23.2M Acquisition Loan for Two Multifamily Properties in Winston-Salem
WINSTON-SALEM, N.C. — Northmarq has secured $23.2 million in acquisition financing for two multifamily properties in Winston-Salem. The lender and borrower were not disclosed.
The two properties, Villas at the Vineyard and Townhomes at Little Creek, have a combined 229 units. The properties are located one mile apart from each other and are located close to downtown Winston-Salem with access to Interstate 40. The properties were renovated in 2020.
Built in 1970, Villas at the Vineyard is a 134-unit apartment community located at 3401 Old Vineyard Road. Unit features include high-speed internet access, in-unit washers and dryers, ceiling fans and fireplaces. Community amenities include a pool, fitness center, laundry facilities, package service, onsite maintenance and property management, a pet play area, clubhouse, fitness center, sundeck, courtyard, grills and a picnic area.
Built in 1966, Townhomes at Little Creek is a 95-unit multifamily community located at 4340 Johnsborough Court. Unit features include in-unit washers and dryers, hardwood floors and garbage disposals. Community amenities include laundry facilities, onsite maintenance and property management, a pet play area, clubhouse, pool and grills.