The Winston-Salem Journal ran a fairly in-depth article on the sale of Carolina Woods and the plans the new owner has for the community. Here’s a taste:
” The Carolina Woods apartment community near Bethabara Park will go through a major renovation initiative as part of its new owner’s push into the North Carolina and Southeast metro markets…
Weiss owns and manages more than 600 multifamily units, more than 20,000 square feet of commercial space, and an 89-room boutique hotel, banquet hall and restaurant.
However, until it closed on the Carolina Woods community, all of its investments were in New Jersey and New York.”
The article also had an interesting bit of info about all of the apartment transactions in Winston-Salem over the last six months:
“The others include: 213-unit Loxley Chase in Winston-Salem selling for $16.25 million; 234-unit Morgan Place in Clemmons for $14.3 million; 204-unit Twin City Townhomes in Winston-Salem for $10.15 million; 144-unit Salem Crest in Winston-Salem for $7.5 million; 96-unit Woodlawn in Winston-Salem for $3.5 million; and the 49-unit apartment complex at 1976 Maryland Ave. in Winston-Salem for $1.45 million. “