Brazos Residential Adds Year-End Raleigh Acquisition to Wrap up a Successful 2022

Private Equity
December 30, 2022
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DALLAS, Dec. 30, 2022 /PRNewswire/ — Brazos Residential, LLC, a Dallas-based real estate private equity firm specializing in multifamily investments, announces the acquisition of the Chelsea Apartments located in Raleigh, NC. The transaction marks the firm’s fifteenth purchase in 2022.

Constructed in 1985, The Chelsea Apartments are in the highly desirable north Raleigh sub-market. The community has 280 units and provides direct access to the US-1, US-401, and US-449 highways, providing residents with convenient commutes to the surrounding area’s premier employment and entertainment hubs.

“The story of The Chelsea is very simple,” explains Blake Shannon, Chief Investment Officer. “It’s very much a basis-driven investment. We were able to capture a substantially low basis relative to the comparable ’70s & ’80s built assets in the surrounding area”.

The community is the firm’s tenth North Carolina acquisition this year—fifteenth in total—and highlights the company’s investment strategy of purchasing value-add opportunities with significant operational upside in well-established markets like Raleigh-Durham.

“Before Brazos, our team spent several years in the multifamily brokerage community, transacting on assets just like The Chelsea,” proclaims James Roberts, Managing Partner, and Cofounder. “By utilizing our experience as brokers and the relationships we formed, we were able to circumvent the standard bidding process and purchase this asset completely off-market. This factor, as well as the asset’s location in one of the country’s strongest markets, made The Chelsea an opportunity that we could not pass up.” We are excited to reposition this asset and capitalize on its operational inefficiencies to maximize returns to our investor partners and improve the living experience of the tenants.”

Founded in 2022, Brazos Residential owns, operates, and manages multifamily real estate assets for institutional and high-net-worth investors across the country. Brazos holds over 2,700 multifamily units across the American Sun Belt, predominately in Texas and North Carolina. The firm employs a dynamic team of real estate, private equity, accounting, and capital market professionals and controls over $350 million in multifamily real estate investments.

For more information, please contact Taylor Leander, Director of Investor Relations, at Investors@BrazosResidential.com

Brazos Residential
(214) 432-8065
Investors@BrazosResidential.com
www.BrazosResidential.com