Chicago, IL, April 29, 2015 – Redwood Capital Group, LLC, a Chicago-based multi-family investment firm, is pleased to announce the recent sale of Beech Lake in Durham, NC.
Redwood, headed by partners David Carlson and Mark Isaacson, owns and operates 29 properties totaling almost 10,000 units in multiple markets throughout the Midwest, Southeast and Southwest.
Beech Lake, located at 4800 University Drive in Durham, NC, features 30 two-story garden-style apartment buildings and was built in 1986. Its 345 one- and two-bedroom apartments average 944 square feet. Amenities enjoyed by the property’s residents include a clubhouse with coffee bar, business center, car wash center, 24-hour fitness center, lighted tennis courts, pool with sundeck, picnic area and gazebo, and a community lake with a fountain. Beech Lake is surrounded by Durham’s most affluent neighborhoods, it is three miles from Duke University (the area’s largest employer), and less than a mile from the Super Target regional shopping center which is the highest grossing Target in the Carolinas.
“The sale of Beech Lake is part of our strategy to take advantage of the booming economy in the Raleigh/Durham submarket. Beech Lake has easy access to all points of the Triangle including proximity to major employers including the Research Triangle Park, Duke and UNC hospitals, and downtown Raleigh,” said David Carlson, Redwood’s Managing Partner.
About Redwood Capital Group, LLC
Redwood Capital Group, LLC is a Chicago-based real estate investment firm founded in 2007 by David Carlson and Mark Isaacson. The company is focused on value-add and core-plus investments in primary urban and suburban markets across the U.S., primarily in the Midwest, Southeast, and Southwest. The company’s mission is to be the foremost choice for institutional and private equity in pursuit of strategic multi-family investment. Redwood is located at 1 E. Wacker Drive in Chicago. For more information, visit www.redwoodcapgroup.com or call 312.464.0300.
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