MEBANE, N.C.--(BUSINESS WIRE)--Blue Lake Capital, a leader in multifamily real estate investing, has announced the successful acquisition of Stonebrook Apartment Homes. Stonebrook is a high-performing, 192-unit multifamily property near the rapidly growing Research Triangle area in North Carolina.
"We look for several factors when targeting a market — job growth, low unemployment rates, healthy renter demographics, and a vibrant workforce," said Ellie Perlman, Founder & CEO of Blue Lake Capital. "The Research Triangle consistently ranks at or near the top of the strongest growth markets and with a number of notable projects in motion, including Apple’s planned East Coast HQ, we're extremely excited about this acquisition."
The property, located at 301 Dogwood Dr, Mebane, NC 27302, is a 1997 Class B+ townhome-style property that boasts an A+ location, great amenities, and opportunities for Blue Lake to execute its value-add business model.
A recent report from the Kenan Institute of Private Enterprise ranks Raleigh-Durham as the 4th fastest growing region in the US. A growing population and strong employment base supported by nearby healthcare, universities and expanding tech industry suggests strong potential yields for investors in the multifamily space.
"This is a strong community from which we can attract quality tenants,” Perlman added. “Incomes are strong and we are confident that our tenant base will be attracted to nicer amenities and can afford higher rents as we make improvements to the properties."
This most recent acquisition marks continued growth of the Blue Lake Capital portfolio and brings the company to over 3,300 units and more than $750M in AUM since inception. Blue Lake Capital has performed strongly, providing an historical average return of 30.9% net IRR to investors.
For more information, visit https://www.bluelake-capital.com.
About Blue Lake Capital
Blue Lake Capital was founded by Ellie Perlman, a former real estate lawyer and property manager. The Company's core principles are to Be Bold, Strive for Excellence, and to do so with Relentless Hustle, Heart, and Humility. Blue Lake Capital strives to set new, higher standards for serving investors, and redefine what real estate investing is all about: collective wealth building and success, leading investors to live an extraordinary life.
