redIQ Deal Highlight: Brazos Residential Acquires Jeffries Cove Apartments and Briarwood Apartments
redIQ Deal Highlight: Brazos Residential Acquires Jeffries Cove Apartments and Briarwood Apartments
redIQ would like to congratulate the team at Brazos Residential for finalizing the acquisition of two assets in North Carolina. Brazos added 425 units to their existing holdings of over 2,500 apartments with these deals.
Jeffries Cove Apartments in Rocky Mount, NC, was built in 1987 and purchased by Brazos from its developer. Brazos saw better-than-expected results from their Rosewood community, also in Rocky Mount. This success cemented Brazos’ interest in another purchase in the area.
Brazos’ second acquisition, Briarwood Apartments, in Fayetteville, NC, was built in 1970 and purchased from Forum Real Estate Group, the asset’s owner since 2018. According to RedFin, Fayetteville stands as one of the top ten most competitive housing markets in North Carolina.
Other recent transactions in the state include the sales of Loray Mill Lofts, Villages at Wake Forest, and River Mill Lofts.
About redIQ
For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisitions teams, brokers, and lenders focused on mid and large-size assets. redIQ's solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside.
