Elite Street Buys Three Triad Apartment Communities

Elite Street Capital, a REIT with offices in Houston and Tel Aviv, has purchased three Triad properties:

In Greensboro, Elite Street bought The Ashland for $14.76 million and The Lakes on Meadowood (formerly Shadow Lake) for $8.5 million. Elite Street paid $19.49 million for Ambercrest in Winston-Salem. Elite Street owns another Greensboro complex, The Fields at Lincoln Green, which it purchased in early 2015…

“We like the Triad market due to its stability and the success proven by our experience with Lincoln Green,” said David Whitby, chief investment officer of Elite Street. “We’ll continue to buy aggressively in the Triad going forward.”