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CHURCH STREET COMPANY
Below is a partial list of projects in which Church Street has been involved:
The Chase. The Chase was Church Street Company’s first development. Completed in 1993, this 119 unit apartment community located in Burlington, North Carolina set a new standard for luxury apartment living in that market. Church Street and its investors continue to own this community and Church Street provides asset management services for the asset.
Northcreek Apartments. Church Street originated this investment opportunity and provided acquisition and development services on behalf of an institutional client for this 240 unit apartment community located in Durham, North Carolina.
Sterling Green. Church Street developed this 228 unit luxury apartment community located along the golf course at Prestonwood Country Club in Cary, North Carolina. The project was completed in 1998, and has since been sold to an institutional investor.
The Gardens on Glenwood. Church Street Company provided fee development services for Grubb Properties in connection with this high end condominium community located in one of Raleigh’s oldest and most desirable neighborhoods. The community includes 97 homes, all of which have been sold. Individual unit sales inclue at least one transaction in excess of $1 million.
The Reserve. Church Street Company developed this 26 unit condominium project, located in Burlington, North Carolina, in 2001. This successful project set a new standard for affordable multi-family living in this market.
The Cottages at Whitaker. Church Street Company acquired Northside Apartments, a 116 unit apartment community located in the trendy Five Points neighborhood of Raleigh, North Carolina. After a major rehabilitation and market repositioning, Church Street converted the homes to condominiums. The condos were originally offered for sale at prices in the high $90’s, and by the last phase, prices had risen to over $145,000. All units have been sold.
Boone Station. Church Street Company developed and manages this 48 acre Planned Unit Development in Burlington. The mixed use project includes an apartment complex, condominiums, a nursing home, offices and retail.
Beacon Ridge Apartments. Church Street Partners originated this investment opportunity, and then formed a venture with Grubb Properties (Charlotte) to acquire and manage this 144 unit apartment community located in Greenville, South Carolina. The transaction closed in March 2010 with Freddie Mac financing.
Chambers Ridge Apartments. Church Street Partners purchased this 102 unit apartment community in Carrboro, North Carolina in September 2010 through the assumption of existing CMBS financing.
Fox Hollow Apartments. Church Street Partners, on behalf of its normal investor base and a new institutional client, acquired this 184 unit property in High Point, North Carolina in January of 2011. Freddie Mac provided permanent financing.
Highland Oaks Apartments. Church Street Partners acquired this 200 unit luxury apartment community located near Hanes Mall in Winston Salem, North Carolina in July 2011 utilizing Freddie Mac financing.
Hunt’s View Apartments. Church Street Partners, on behalf of an institutional client, purchased Hunt’s View Apartments, a 240 unit property located in Greensboro, North Carolina, in December of 2011. Fannie Mae provided permanent financing.
Lexington Farms Apartments. Church Street Partners acquired Lexington Farms Apartments, a 188 unit community in Raleigh, North Carolina, in February 2012. A major renovation of the unit interiors is ongoing, with rental increases in excess of $100 per month. Fannie Mae provided financing.
Legacy at Century Center Apartments. Church Street Partners acquired and rebranded Windmont Apartments in Atlanta, Georgia in August 2012. The 178 unit property located north of the city center is currently undergoing a major renovation. Freddie Mac provided financing.
Midtown Park. In November of 2012 Church Street Company acquired Golden Colony Townhomes in Raleigh, North Carolina. Church Street purchased the all townhome style property and rebranded the newly renovated community as Midtown Park. Church Street spent over $25,000 per unit in improvements to the older property, and has generated rental increases of over $400 per month. BB&T provided acquisition and redevelopment financing, and Genworth subsequently provided permanent financing.
Parkside at Five Points. In 2015 Church Street Company acquired the Grove Park Apartments located in the Five Points area of Raleigh, North Carolina. Church Street completely renovated the townhome style property, spending nearly $30,000 per unit in renovation costs, and rebranded the community as Parkside at Five Points. Upon completion average rents were approximately $500 higher than before the renovation. The Bank of North Carolina provided acquisition and redevelopment financing.
The Apartments of Westgrove. In 2018 Church Street Company acquired the Apartments at Westgrove, a rental townhome community located in west Raleigh, North Carolina. Church Street is in the process of renovating the complex, including significant upgrades to the unit interiors. Financing was provided through Medalist Capital and Walker & Dunlop.
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