Partners Buy Second Greensboro Apartment Community
The two companies that partnered to buy Westborough Apartments last year have made a second apartment purchase in Greensboro. From an article in the Triad Business Journal:
Blackfin Real Estate Investors LLC, based in Arlington, Virginia, and GMF Capital LLC of New York City, bought The Hamptons at Country Park in Greensboro for $18.7 million from Johnston Properties of Greensboro. The deal was recorded Aug. 13 by Guilford County.
The Hamptons, l4515 Lawndale Dr., is a 264-unit multifamily property on 22.8 acres adjacent to Country Park. The property, last sold in December 1999 for $9.13 million, is listed as Class C and being built in 1979 in Guilford County records.
Last year, Blackfin and GMF purchased Westborough Apartments, a 502-unit, Class B garden-style community at the corner of West Friendly Avenue and Guilford College Road in Greensboro for $28.1 million, and renamed it The Avenue.
Something interesting to note here: a Class C property in Greensboro sold for $70,833/door in 2019 and a Class B property in Greensboro sold to the same partners the previous year for $55,976/door.