Villages at Wake Forest

Investment Summary

Property:   ( www.villageswf.com )

Located across the street from Wake Forest University in Winston-Salem, NC, Villages at Wake Forest is a student housing community with 64 units and 251 beds. The units are predominately cottage-style 4br/4ba houses and a few older, single family homes that have been renovated to provide equal bed-bath parity. The project was developed over a span of 4 years starting in 2012 by two local investors who saw an opportunity to purchase old houses and vacant lots near Wake Forest University and build a luxury student housing product. 


Strategy

Maximize rent potential and investor returns through a combination of increasing rents to already proven market levels and building additional beds to meet the growing shortage of off-campus housing.

Opportunity Highlights

Our business plan includes the following.

  

  • Build an additional 24 units on land that is already included in this property. 
  • Bring rents for all units up to market levels that have already been proven at other local properties, and proven with the pre-leasing of the additional beds we plan to build.
  • Begin pre-development work and planing for a potential 60 additional beds on currently owned land directly across from the college.

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