Subject: RLE
Drucker + Falk Tapped to Manage Lynnwood Park and Wendover River Oaks Apartments in North Carolina
National multifamily management company expands partnership with Dallas-based investment group to three multifamily communities
RALEIGH, N.C., Sept. 8, 2022 /PRNewswire-PRWeb/ -- Expedition Capital Advisors (ExCap), has once again selected Drucker + Falk (DF), one of the nation's most prominent multifamily management companies, to manage two of the investor group's more recent acquisitions, Lynnwood Park and Wendover River Oaks. The investments are in perfect alignment with ExCap's shared strategy to continue their growth in the Carolinas.
Originally built in 1981, Lynnwood Park is located in Raleigh, NC and features one and two-bedroom homes ranging in size from 580 to 1,150 square feet. Within walking distance to Shelley Lake with direct access to the Greenway trails, the property is spread out across 15 acres. Residents can enjoy several community amenities including a full-size tennis court, fitness room, and playground, along with highly sought-after open floor plans and spacious townhomes.
Located in Greensboro, North Carolina and built in 1988, Wendover River Oaks offers one and two-bedroom homes that average 795 square feet in size. The apartment community is surrounded by mature landscaping and walking trails and is one mile from I-40 and the Wendover shopping district. In addition to its convenient location, the community boasts several amenities, including a 24-hour fitness center, dog park, car wash station, coffee lounge, swimming pool with large sundeck, package lockers, and two outdoor grilling areas.
New ownership has plans to embark on value-add opportunities at both communities, which include modernizing the kitchens and bathrooms and refreshing shared community spaces, as well as elevating the overall curb appeal of the buildings and landscaping. Lynnwood Park's renovations specifically include a redesign of the current resident clubhouse starting as early as this year.
As ExCap has continued their efforts to expand in the Southeast, DF has again been selected as their choice for a management partner and has served as a strategic local partner helping ExCap continue to scale and grow in the Carolinas. The three ExCap owned apartment communities now under DF management are all located across the Carolinas and total 670 units.
"We were delighted to meet the team with ExCap back in 2021 and to learn more about their growth strategy, especially in the Southeast. We are honored that they have selected Drucker and Falk as a third-party management partner for these acquisitions and we look forward to continuing to expand our relationship with them." Lisa Narducci-Nix, Director of Business + Property Development for Drucker + Falk.
ABOUT DRUCKER + FALK
Founded in 1938, Drucker + Falk is a full-service real estate and investment firm, managing a diverse portfolio of more than 40,000 apartments in 11 states including Virginia, Maryland, North Carolina, South Carolina, Arkansas, Florida, Tennessee, Indiana, Kentucky, Ohio, and Louisiana. With roots in third party fee management, Drucker + Falk specializes in multifamily management of all asset types, new development construction consultation and lease up, urban revitalization, asset repositioning and stabilization of challenging properties, mixed use management and due diligence services. With more than 3 million square feet under management, Drucker + Falk also offers commercial sales, leasing and management services. For more information, visit Drucker and Falk.
ABOUT EXPEDITION CAPITAL ADVISORS
ExCap, a real estate fund manager pursuing opportunistic and value-add investments, has a heavy investment focus on the multifamily sector, and is pursuing both value-add acquisition and ground-up development opportunities in submarkets throughout the sunbelt with strong employment and population growth. The principals of ExCap have made over 70 investments in various markets throughout the U.S. since 2010.
Media Contact
Amanda McCrowell, Drucker + Falk, 757-406-1187, [email protected]
SOURCE Drucker + Falk
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