Carter Multifamily Acquires Workforce Apartment Community

Signature Place Apartments Provide Desirable Housing in Growing Service Sector Community of Greenville, North Carolina

Aug. 21, 2018
GREENVILLE, N.C. — Carter Multifamily announced today that it acquired Signature Place Apartments (“Signature Place”), a 171-unit community of Class B apartment homes located in Greenville, North Carolina, for approximately $14.8 million.

Constructed in 1980, Signature Place offers a diverse mix of garden-style and townhouse units with generous floor plans sought after by personnel of the area’s major employers. For example, Vidant Medical Center, is located adjacent to Signature Place and a major employer in Pitt County with approximately 6,560 health care and administrative professionals.

“Signature Place is a true Middle Market America apartment community that offers residents quality, affordable housing that feels less like an apartment complex and more like a neighborhood,” said Cindy Pfeifer, CEO of Carter Multifamily. “Carter Multifamily plans to enhance and update the on-site amenities and living spaces to provide a more desirable community for the residents while also enhancing overall property value.”

Carter Multifamily intends to commence renovations to modernize the property including flooring, appliance, and lighting updates in units as well as enhancements to building exteriors and common areas, including the pool, dog park and fitness center upgrades. There are also plans to add more outdoor seating, gathering areas, an outdoor kitchen, and fire pits around the community pool. Such renovations are scheduled to begin immediately.

About Carter Multifamily

Carter Multifamily is a group of companies focused on multifamily real estate that offers value-add enhancement opportunities. Carter Multifamily’s leadership team has significant experience in the multifamily real estate sector and leverages key industry relationships to focus on GROWTH and INCOME opportunities.