Coy Willard Sells Swathmore Court Apartments

An investment firm managed by Greensboro attorney Marc Isaacson has purchased Swathmore Court Apartments (High Point) from long-time High Point apartment developer/manager Coy Willard’s company. From the Triad Business Journal:

A New York-based real estate investor bought the 104-unit Swathmore Court Apartments in High Point for $5.9 million, according to public record…

The apartments and 6.5-acre property was sold by High Point Holdings III LLC, an entity managed by High Point businessmanCoy Williard Jr. of Williard-Stewart Inc.,according to the deed.

The complex is at least 10 years old and is 95 percent occupied, said Swathmore Courts Apartments representative Susan Cobb.

Swathmore Investors LLC will take on the $4.6 million balance due on the mortgage to Prudential Huntoon Paige Associates LLC, the deed shows. The $5.9 million sale closed on May 1.