Prudent Growth Partners Adds to its Portfolio with Statesville Acquisition

Prudent Growth Partners has acquired the 100-unit Meadows at Russell Apartment community in a $4.5 million transaction. Durham, NC (PRWEB) October 27, 2017 Prudent Growth Partners, LLC, a real estate investment company based in Chapel Hill, NC, has completed its acquisition of the Meadows at Russell Apartment community in Statesville, NC. The property, a 100-unit community, is located at 502 Russell St, Statesville, NC 28677. The purchase price was $4,500,000. “This is another great purchase for PGP and our investors The property has a history of very high occupancy and is a great value-add opportunity for us” says Tom Hahn, President of Prudent Growth Partners. “We are planning many improve

Online shopping hasn't killed brick-and-mortar retailers

Great report from ABC News that counters the prevailing narrative that retail is dead. As an owner of many neighborhood retail shopping centers, PGP can definitely attest to this fact! We have nearly 100% occupancy in all of our properties and regularly turn away calls from prospective tenants interested in finding space. From the Article: Reports of the death of bricks-and-mortar retailers, as Mark Twain famously said, are greatly exaggerated. Some people are doubling down on this pronouncement after some big chains, including Macy's, said they were hiring fewer seasonal workers. But those who read closer will see that other retailers are doing just the opposite. Target, for example, plan

Why This Is the Best Year to Work Holiday Retail

Good perspective on the tightening labor market from NBC News. This expected trend of stronger earnings for retail workers is a double-dose of good news for our investors! We own neighborhood retail shopping centers as well as Class-B "workforce housing" with many residents employed in the retail and service industries. We certainly seem to be noticing an uptick in the income levels and credit quality of our typical resident. From the article: For holiday job-seekers, Christmas is coming early this year. With a national unemployment rate of 4.2 percent, experts are predicting a hot job market for seasonal hiring, and holiday part-timers might score the biggest bonus of all once the season

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    Prudent Growth Partners, LLC  (2017)    1829 E. Franklin St, Suite 800-F, Chapel Hill, NC 27514  (919) 590-4119