Firm Acquires NC, VA Assets

Jan 17, 2024

These communities total more than 450 units.

Conserve Holdings, a Toms River, N.J.,-based real estate investment and management firm, has expanded its portfolio, acquiring two multifamily properties totaling 471 units in North Carolina and Virgina.

The firm, founded by David Walkin and Steve Fuchs, did not disclose the prices paid for the assets or the sellers of Northcliffe Forest Apartments, a 288-unit community in Winston-Salem, N.C., and Cottage Trails at Culpepper Landing Apartments, a 183-unit property in Chesapeake, Va.

According to YardiMatrix data, Eller Capital Partners sold the property for approximately $28.8 million to Conserve Holdings, which secured a loan of about $20.4 million from KeyBank for the acquisition. Eller Capital had purchased the property in May 2019 from Cedar Grove Capital for $16.4 million. Cedar Grove had owned the asset since November 2016, when it paid Jaymor Group approximately $11.9 million for it, YardiMatrix reported.

Read The Full Artice. https://www.multihousingnews.com/firm-acquires-nc-va-assets/

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Conserve Holdings, a leading real estate investment firm specializing in the acquisition and management of multifamily properties nationwide, was founded by David Walkin and Steve Fuchs. With a focus on long-term value creation, the company leverages its expertise to identify and secure investment opportunities that deliver optimal returns for its investors. Conserve Holdings is committed to building strong relationships, driving innovation, and contributing to the growth and success of the communities in which it operates.