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/
BISWIRE/Jan. 11, 2024 — Conserve Holdings, a leading real estate investment firm, proudly announces the successful closing of two strategic acquisitions, marking a momentous end to 2023. These transactions, completed in less than four weeks, underscore Conserve Holdings' ability and commitment to seizing timely investment opportunities. The deals were funded entirely with internal capital, showcasing the company's financial prowess and flexibility in meeting tight timeframes. Read More Here. https://www.bisnow.com/biswire/conserve-holdings-2024-01-11-122377
