RALEIGH,
N.C., Nov. 8, 2023 /PRNewswire/ -- Wood
Partners, a national leader in multifamily real estate development,
and PGIM Real Estate, the real estate investment and financing arm
of PGIM, today announced the grand opening of Alta Town Center,
located in Raleigh, North
Carolina. The community's grand opening celebration,
complete with a ribbon-cutting ceremony, is set for June 27.
Located at 6501 Town Center Drive, in one of Raleigh's fastest growing areas, Alta Town
Center offers convenient proximity to both I-540 and Capital
Boulevard. This advantageous location allows residents to
effortlessly explore the vibrant Triangle area, making travel and
commuting a breeze. Residents will also have access to a diverse
selection of retail and dining choices in close proximity to the
property, such as Triangle Town Center Mall, Poyner Place, and
Plantation Point. The ongoing development in the area also presents
abundant job prospects, with prominent companies like IBM, Red Hat,
and Duke University just a short drive
away.
"We are thrilled to see Alta Town Center come to life as we
welcome residents to our extraordinary property in Raleigh, North Carolina," said Caitlin Shelby, Managing Director for Wood
Partners. "We are confident that Alta Town Center will provide an
exceptional living experience, combining luxurious amenities, prime
location, and a vibrant community. We look forward to seeing our
residents thrive and create lasting memories in their new
homes."
Alta Town Center offers 336 apartment homes comprised of one-,
two- and three-bedroom floor plans. Each home at affordable price
points will showcase elegant urban touches and luxurious details,
such as stainless-steel appliances and stylish chrome faucets and
accents, granite countertops, tile backsplashes, in-unit washer and
dryer sets, and exquisite wood-style flooring.
Alta Town Center caters to residents with a wide range of
attractive community amenities, including a saltwater pool with
poolside cabanas, outdoor grilling and lounge areas, outdoor
fitness equipment, and an on-site pet park and pet spa. Inside the
community club house, residents will have access to a
state-of-the-art 24-hour fitness center, coworking spaces, and
plenty of space to mingle and socialize with fellow community
members in the welcoming hospitality bar and game room.
PGIM Real Estate invested in Alta Town Center through Impact Value
Partners (IVP), its private equity impact fund that invests in
affordable housing and transformative development in the U.S.
Soultana Reigle, senior portfolio
manager, U.S. value-add strategies at PGIM Real Estate, commented
"Alta Town Center will benefit from its position within one of the
Raleigh metro's highest performing
submarkets in terms of rent growth, driven by its proximity to
employment and relative affordability. Additionally, the property
will expand affordable living options for Raleigh residents, providing naturally
occurring affordable housing at 80% of the area median income."
For more information, please visit
https://www.altatowncenter.com/.
About Wood Partners
Wood Partners is a national leader in the
development, construction, and management of multifamily
communities across the United
States. The company has been involved in the acquisition and
development of more than 95,000 multifamily homes with
a combined capitalization of $20
billion. The company currently owns 80+ properties
across the United States representing more than 25,000
units, as well as providing property management for an additional
55 third-party assets representing 14,000
units. Headquartered in Atlanta, Wood Partners has offices in 22
major markets across 15 states nationwide. The company
also operates an award-winning, full-service property
management group that proudly operates both properties
developed by Wood Partners and communities owned by third parties.
For four years running, Wood Partners has ranked No. 1
nationally for online reputation in the J Turner ORA™ Power
Rankings (Division III). For more information,
visit woodpartners.com.
Contact: Donya Mansoorian,
bcwwoodpartners@bcw-global.com
About PGIM Real Estate
As one of the largest real estate managers in the world with
$206.8 billion in gross assets under
management and administration,1 PGIM Real Estate strives
to deliver exceptional outcomes for investors and borrowers through
a range of real estate equity and debt solutions across the
risk-return spectrum. PGIM Real Estate is a business of PGIM, the
$1.4 trillion global asset management
business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate's rigorous risk management, seamless execution,
and extensive industry insights are backed by a 50-year legacy of
investing in commercial real estate, a 140-year history of real
estate financing,2 and the deep local expertise of
professionals in 32 cities globally. Through its investment,
financing, asset management, and talent management approach, PGIM
Real Estate engages in practices that ignite positive environmental
and social impact, while pursuing activities that strengthen
communities around the world. For more information visit
pgimrealestate.com.
1 As of June 30,
2022, net AUM is $136.3
billion and AUA is $45.6
billion.
2 Includes legacy lending through PGIM's parent
company, PFI.
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SOURCE Wood Partners