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TALLAHASSEE, Florida, November 15, 2021 / PRNewswire / – Carter Funds (the “Company”), a fully integrated real estate investment company, today announced the sale of two garden-style multi-family properties: 2626 Park located at 2626 E. Park Ave. To Tallahassee, Florida and Signature Place located at 410 Beasley Dr. in Greenville, North Carolina. The properties were owned by Carter Multifamily, a Carter Funds company, and sold on November 3, 2021, for a combined selling price of $ 73.3 million. Carter Multifamily purchased 2626 Park in 2019 and Signature Place in 2018 for a $ 56.6 million.

Under the management and ownership of Carter Funds, the company completed exterior and interior renovations of units, reduced the number of vacancies and increased average monthly rents for occupied units. Exterior renovations included improving common areas and adding outdoor amenities, including the reallocation of a basketball court into a recreation area with a corn hole, foosball, and game tables on the ground floor. park 2626, as well as a new fitness center at Signature Place. Through renovations, operational improvements and strong market performance, Carter Funds has been able to reposition and market the assets as beneficial value-added opportunities.

“The sale of these mid-market properties illustrates our Carter Multifamily value-added investment strategy and the results we aim to achieve for our investors. the demand for affordable housing has enabled us to properly plan outings and sell at a desirable return, ”said Ray hutchinson, Director of Investments at CMF.

About the Carter Funds
Carter Funds is a fully integrated real estate company built on over 250 years of real estate experience. Carter Multifamily, a Carter Funds company, is focused on acquiring established, income-producing garden-style apartment buildings in high-growth markets in the southern United States. to a growing population of tenants. Find out more: www.carterfunds.com and www.cartermultifamily.com.

Media contact:
Stacy sheedy
Marketing Director, Carter Fund
[email protected]
813-358-5982

SOURCE Carter Fund

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http://www.carterfunds.com

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