Wood Partners Apex Land Buy Paves Way for Apartment Venture
Wood Partners, in partnership with Marcus Partners, has broken ground on Altera Heights, a 280-unit multifamily community located in Apex, North Carolina, a suburb of Raleigh. The Triangle Business Journal reports Woods acquired 13.5 acres north of Highway 64 for $4.9 million.
Located at the intersection of Jenks and Wimberly roads, the community will include a mix of one-, two- and three-bedroom units. The community will also include income-restricted affordable housing.
Altera Heights’ amenities include a freestanding clubhouse featuring a fitness center, co-working space, gaming and lounge areas, as well as a swimming pool, outdoor fitness area, dog park and pet spa.
The apartments are expected to be delivered by the end of 2027.
Altera Heights will be Wood Partners’ fourth project to commence construction in the Raleigh-Durham area in the last year.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout