Icon (Close Menu)

Logout

Shareholders Behind Wilson Park Apartments Purchase

1 min read

You may have heard that the 20-unit Wilson Park Apartments in Fayetteville sold for $1.3 million last month.

But did you know that Wilson Park Apartments LLC sold shares, at $26,000 apiece, to help buy the property?

The LLC filed its paperwork last month with the Securities & Exchange Commission, but with few details about how many people have invested or how much money was raised.

The manager of the LLC is Jeremy Hudson, who is the CEO of the real estate development and property management firm Specialized Real Estate Group of Fayetteville. The LLC and Specialized share the same address.

Hunter Buwick, development associate for Specialized, provided a few more details about the deal in an email to Whispers last week.

“We wanted to offer local investors an opportunity to invest in real estate without the time and energy required to manage an apartment complex,” he said. “Property management is something we are proud to say we’ve excelled in. … By partnering with local investors, we’re able to provide them with a hands-off, hassle-free real estate investment, and they’re able to provide us with the capital to do more great projects in the city we love.”

He said plans are in the works to renovate the landscaping and the units, possibly next year.

The property, with 16 one-bedroom apartments and four two-bedroom units, is full.

The seller was W-One Investments LLC of Fayetteville.

Send this to a friend