Greensboro Apartment Community Sold for 29% More Than in 2015

Posted By: Jon Lowder Blog ,

The Fields at Lincoln Green, one of the Triad's largest apartment communities, was recently sold to a group of New York City-area investors:

Five New York City-area LLCs have purchased The Fields at Lincoln Green at 2205 New Garden Road in Greensboro for $57 million, according to Guilford County records...

The Fields, built in 1984, includes 616 units on 46.8 acres. Amenities include two swimming pools, a clubhouse and fitness center. According to apartments.com, one-bedroom units start at $655, with two-bedroom units from $885.

The sale price was an indication of the increasing value of residential real estate in the Triad. Elite Capital, based in Houston, Texas, paid $44.1 million for the community in October 2015.

You can read the full story at Triad Business Journal.