SBV Communities Acquires LeMans at Lawndale, Fifth Multi-Family Acquisition in Greensboro
SBV Communities today announced its fifth multi-family apartment purchase in Greensboro, NC. LeMans at Lawndale, a 109-unit apartment complex is well positioned with access to highways, shopping and recreation. SBV Communities executed the purchase and sale agreement on May 22nd and closed the transaction on June 26th.
“When it rains it pours,” said Chris Thomson, Director of Multi-Family Acquisitions. “Purchasing five properties in such a tight timeframe is really optimal for our operational model. We can essentially bring all of these new properties into the fold at once, very quickly. And establishing such a solid presence in a market in one shot is something we’d love to repeat.”
Greensboro, part of the Piedmont Triad (which also includes Winston-Salem and High Point) is the third largest city in the state. Historically known for its ties to tobacco, the city is home to the headquarters of Lorillard Tobacco Company. The city continues to diversify its economic base, in part due to its central location, which makes it an ideal logistical hub for companies with major operations such as FedEx, Mack Trucks, and RF Micro Devices. Additionally, Greensboro boasts several colleges and universities, including NCA&T and UNC Greensboro.
“This is an excellent opportunity for us to expand with our fifth real estate investment property in Greensboro, and we believe this will be a great success,” said Amit Raizada, CEO of SBV Communities.
About SBV Communities
SBV Communities was formed in 2009 to acquire and manage multi-family real estate properties. The company builds long-term value by focusing on lender-owned, B & C properties with strong value-add potential. SBV Communities’ portfolio includes assets in fourteen markets.
About Spectrum Business Ventures, Inc.
Founded in 2002, Spectrum Business Ventures, Inc. is a private firm based in Kansas City, Missouri providing family offices, high net worth and institutions unique, complex and compelling business opportunities to build long-term value at low risk. The company owns and operates entities in the United States, Central America and Europe in a wide range of industries.
For more information about SBV Communities or Spectrum Business Ventures, Inc. please visit www.sbv.com or call 816.268.1300.