COVID Didn't Stop Apartment Sales in 2020

Posted By: Jon Lowder Blog ,

The Triad Business Journal compiled a list of the Top 40 apartment sales in the Triad in 2020 and you can see them here (subscription required). From the article:

Did the virus send apartment dwellers looking for less dense housing options? Did the increased number of renters behind on payments (485,000 adults in N.C., estimated by the state Center of Budget and Policy priorities on Dec. 30) discourage developers?

Judging by the numbers, no.

In fact, sales prices for multifamily developments continued to soar throughout the year, beginning in February with the highest transaction — the $57 million sale of Lakes of Lincoln (formerly The Fields at Lincoln Green) — and finishing with the No. 2 sale, $56.7 million for Steeplechase at Adams Farm, in December.

Here are the top 10 (by total sales price):

  1. Fields at Lincoln Green (Greensboro) - $57 million
  2. Steeplechase Apartments (Greensboro) - $56.2 million
  3. Abbington Place Apartments (Greensboro) - $51.1 million
  4. Brassfield Park (Greensboro) - $49 million
  5. Plantation at Pleasant Ridge (Greensboro) - $42 million
  6. Retreat at the Park (Burlington) - $37.8 million
  7. Waterside (Graham) - $34.4 million
  8. (tie) Waterford Place (Greensboro) - $33.25 million
    (tie) Reserve at Bridford (Greensboro) - $33.25 million
  9. Brandemere Apartments (Winston-Salem) - $32 million