AXA IM Alts snaps up class A residential property in North Carolina
AXA IM Alts has acquired a 287-unit multifamily residential asset in Raleigh, N.C., representing its second joint venture with Hawthorne Residential Partners. Financial terms were not disclosed.
Hawthorne is a vertically integrated multifamily investment, management and development firm with a focus on the southeastern United States. The company will act as property manager.
The recently renovated, newly renamed asset, known as Hawthorne Davis Park, is a class A residential property featuring a mix of one-, two- and three-bedroom apartments. All units were substantially modernized during the past three years. On-site amenities include a 24-hour fitness center, barbecue grilling area, dog park, children’s playground and a newly renovated pool.
AXA IM Alts said it intends to undertake an additional capex program to further enhance the appeal of the property, including upgrades to the communal areas and the apartment interiors.
AXA IM Alts has a $26 billio