NAI Piedmont Triad and NAI Earle Furman’s Multifamily Division recently closed a $9.6 million deal for Kerner Mill Townhomes in Kernersville, N.C.
The homes, built in 1995, consist of 160 units. The property was fully occupied at the time of sale.
Stanhope Johnson of NAI Piedmont Triad and Tony Bonitati, Kay Hill, and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the seller, Pope Companies Inc. The buyer, Morrison Avenue Capital Partners (MACP), based out of California, was unrepresented in the transaction.
MACP, which specializes in multi-family real estate investment, ownership, and advisory work, and owns multiple properties throughout the Southeast, including Bailey Court in Anderson, plans to hold the property as a long-term investment.
