Villages at Wake Forest is a student housing community in Winston-Salem, NC.
Villages at Wake Forest is a luxury student housing community across the street from Wake Forest University in Winston-Salem, NC. The property was purchased as 64 cottages with 281 beds. cottages are mostly 4br/4ba houses spread across 2 neighborhoods.
The purchase also included a large contiguous parcel that could be used for additional cottages or to build a larger dorm-style building with 60 beds.
Maximize rent potential through light capital improvements to enhance overall appeal and marketability in this prestigious neighborhood. Additional upside by splitting current double-lots and building more cottages as well as the potential construction of the dorm-style graduate housing.
Our business plan includes the following improvements.
As of mid 2020 we’ve built an additional 24 units on land that was included in this property purchase.
Rents have been brought to market levels and the property is 100% leased for the current year and nearly fully leased for the following year..
We’ve begun pre-development work and planning for the potential 60 additional beds on our adjacent lot directly across from the college.
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