237-Unit Class-A Greensboro Apartment Community is Sold

Carlisle Residential has sold its Encore North community in Greensboro to Grimley Residential. The 237-unit community sold for $34.3 million, or $144,725 per door. Here are more details from an article in Multi-Housing News:

Carter-Haston will manage the community on behalf of the new owner. Built in 2017, the apartment property offering one- and two-bedroom homes is located at 3619 N. Elm St., less than 5 miles north of downtown Greensboro.

The community was built by Lomax Construction and comprises five three-story buildings, with an occupancy rate of nearly 94 percent, according to Yardi Matrix data. Amenities include a fitness center, swimming pool, resident lounge and dog park…

Grimley Residential’s Southeast portfolio is growing. Early last year, the company bought Preserve at Hardin Valley, a 296-unit community in Knoxville, Tenn., for $48 million from a joint venture between Crescent Bend Development and Cumberland Advisors, according to Yardi Matrix.

Thompson Joins Carlisle Residential as Chief Marketing Officer

Carlisle Residential Properties announced this week that Kevin Thompson will be joining the company as Chief Marketing Officer. From an article in Multifamily Pro:

Carlisle Residential Properties, a leading apartment management and investment company throughout the Carolinas, announced today that it has hired Kevin Thompson as Chief Marketing Officer (CMO). Thompson, who joins the Company effective August 1st, will oversee all corporate and community-level Marketing, Branding, Communications, and Public Relations. Thompson will report directly to Matthew Rankin, Carlisle’s President and CEO.

Rankin stated, “We’re very pleased to welcome Kevin to our senior team. Our communications and marketing needs have steadily increased with our growing portfolio and strategic direction. Kevin, with his considerable experience both inside and outside the apartment industry, brings the strategic leadership we need to move to the next level in our Company’s development.”

…For the last six years, Thompson served as Senior Vice President of Marketing at Bell Partners, Inc. He is a member of the Zillow Advisory Board, Vice-Chairman of the National Multihousing Council’s Branding Subcommittee, and a frequent speaker and panelist at industry conferences.