Washington-Based Company Expands Its Triad Portfolio
Willow Creek Partners, based in Washington, has expanded its Triad portfolio with the purchase of Brannon Park in northeast Greensboro. From the Triad Business Journal article about the purchase:
Brannon Park, a 299-unit apartment community in northeast Greensboro, was purchased by Willow Creek Partners of Washington for $16.9 million.
The property, which includes 13 three-story buildings on 24 acres, was sold in an off-market transaction by San Diego-based Pacifica Cos., which was represented by Capstone Apartment Partners. Austin Green and Alex McDermott led the Capstone team.
Pacifica paid $11.4 million for the community in 2014. The apartments were built in 1984.
Willow Creek, which owns several other Triad properties, plans to make value-added renovations to Brannon Park’s clubhouse, amenities, and apartment interiors. In January, Triad Business Journal reported that Willow Creek had bought Hunt Club Apartments in Winston-Salem for $7.68 million.