TORONTO, Feb. 3, 2017 /PRNewswire/ -- Emma Capital Investments Inc. ("Emma Capital") is pleased to announce the acquisition of a 250-unit garden-style community, 180 West Apartments (formerly named Landmark at Chelsea Crossing), located at 180 Bpw Club Rd, Carrboro, NC 27510 (the "Property"). This is Emma Capital's 3rd investment in North Carolina and its 21st acquisition in the U.S., adding to Emma Capital's total portfolio to date of approximately 5,000 apartment units.
180 West was built in 1987 and contains 250 residential units in 19 two story buildings. The Property offers 6 spacious floor plans made up of 49 One-bedroom units, 125 Two-bedroom units, and 76 Three-bedroom units, averaging 1,051 square feet per unit. The property enjoys a well-maintained community in which residents enjoy a relaxing, comfortable life-style with beautiful landscaping, an outstanding large unit and an attractive amenity package. The community features a beautiful swimming pool area, tennis courts, fitness center, clubhouse and laundry facilities.
The Property is ideally positioned in the Triangle region of Durham, Chapel Hill and the state capital Raleigh, which is consistently ranks nationally as best place to live, work and obtain a world-class education. The Property is two miles south west of more than 22,000 jobs at the University of North Carolina at Chapel Hill and UNC Health Care. The Property also benefits from The Triangle's employment centers in Durham and Research Triangle Park including; IBM Corp, GlaxoSmiteKline, Fidelity Investments, Blue Cross & Blue Shield, Cree Inc. and AW North Carolina. The Property is 5 minutes from Highway 501 and 54, providing connectivity throughout the Triangle region.
"We are very excited about this acquisition," stated founding Partner and Co-Owner Haya Zilberboim. "The Property is located in one of the strongest submarkets in the South-East, Chapel Hill, with close proximity to some of the finest universities, health facilities and research centres in the United States." The strength of the market and the strong amenity package of the Property provides Emma Capital with the opportunity to immediately focus on rent growth initiatives such as income-boosting unit interior upgrades."
"We are extremely excited about our expansion into The Triangle area," added Partner and Co-Owner Oz Cohen. We continue to execute on our growth strategy with quality assets and leverage our experience and relationships to access phenomenal opportunities in quality markets. We intend on continuing to expand our presence in our current markets as well as continue to continue our expansion to other Southeast submarkets such as Nashville, Louisville and Tampa."
About Emma Capital
Emma Capital was founded in 2012 and specializes in the identification, financing, acquisition and operation of multi-family residential complexes, in particular in the Sun Belt States in the U.S. The typical Emma Capital project involves 100+ class "B" apartment communities with value-add opportunities, delivering strong cash flow and long-term appreciation while preserving capital. To date, Emma Capital's portfolio consists of total purchased value of over US$350 Million dollars of property and over 5,000 units in the Charlotte, Raleigh-Durham-Chapel Hill, Phoenix and Atlanta markets.
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SOURCE Emma Capital Investments Inc.