Concord Apartments represents TruAmerica’s second investment in the Raleigh-Durham MSA and the State of North Carolina. Located in Northwest Raleigh, the property provides strong connectivity to employment centers in the Research Triangle Park and Downtown Raleigh, while simultaneously providing access to unique leisure and outdoor activities.
Concord Apartments benefits from a highly sought-after suburban location within the Raleigh-Durham MSA. Positioned closely to I-40 and I-440, the property provides residents with unparalleled access to retail and dining locations, and major employment centers. Additionally, Concord Apartments boasts access to a plethora of leisure and outdoor activities, as the property is geographically positioned at the base of William B. Umstead State Park, encompassing 5,600 idyllic acres, including 13 miles of multi-use trails, canoe rentals, bridle and bike trails, fishing at three manmade lakes, and camping. The property is within a 6-minute drive from UNC Rex Healthcare, a 660-bed hospital supporting +6,400 staff members, making it one of Wake County’s largest employers.
The 228 -unit property was built in 1991 and features one-, two, and three-bedroom floorplans with oversized patios, balconies, or sunrooms, as well as wood-burning fireplaces in select units. Prior ownership completed partial renovations in 175 homes leaving the remaining 53 homes in classic condition. TruAmerica plans to renovate all units at the property to a cohesive scope to include white shaker cabinet fronts, stainless steel appliances, quartz countertops, vinyl flooring, a tile backsplash in the kitchen, and upgraded fixtures and hardware. Additionally, prior ownership completed extensive exterior work and amenity upgrades which TruAmerica plans to complement with additional enhancements to the dog park, pool area and clubhouse.