Gastonia, NC- Sandhurst Apartment Management (“SAM”) has announced the purchase of Walkers Ridge Apartments, a 144-unit multi-family apartment complex built in 1990. The acquisition closed in February 2020.
Walkers Ridge consists of 7-three story buildings and a one-story clubhouse. The property features controlled access gates, a community pool, a playground and grilling station. Situated on nearly 16 acres, Walkers Ridge is strategically positioned in Gastonia near 1M SF of retail between the Eastridge Mall and Frank Boulevard. SAM plans to implement a value-add program over the next several years, which will include an interior renovation schedule to include new flooring, appliances, and refaced cabinetry. This will situate the asset to continue to be successful in the ever-growing Gaston County Market.
SAM is pleased to purchase its third asset in Charlotte MSA. With easy access to major highways, continued commercial and industrial growth and strong school systems, Walkers Ridge is situated in an excellent location. As Gastonia has become a highly attractive submarket just 20 miles west of downtown Charlotte, the acquisition proves to be consistent with our strategy of buying assets located in growing submarkets with strong demographics, projected rent growth and minimal new supply forecasted within the market.
ABOUT SANDHURST APARTMENT MANAGEMENT (“SAM”)
Sandhurst Apartment Management is a forward-thinking, time tested group that provides a wholly integrated package of property management services, including on-site asset management, construction supervision and due diligence. Our success is rooted in our thoroughly vetted, value-add property investments that provide high-quality rental apartments in good school zones with attentive,hands-on-property management. Sandhurst owns and manages assets in 9 states totaling 11,000 units in excess of $1 Billion.