Carter Multifamily Buys Mississippi Apartment Community for $26.6 Million
Carter Multifamily, the sponsor of private placement offerings that invest in value-add multifamily assets, has purchased The Gables in the Jackson suburb of Ridgeland, Mississippi.
Carter Multifamily, the sponsor of private placement offerings that invest in value-add multifamily assets, has purchased The Gables, a 168-unit apartment community, for approximately $26.6 million.
Located in the Jackson suburb of Ridgeland, Mississippi, The Gables includes one-, two- and three-bedroom floorplans. Community amenities including a pool and spa, gated entry, detached garages, outdoor grilling areas, a fitness center, and an on-site laundry facility.
“We like the strong historical rental performance of this market, which has fared well during the pandemic, and are thrilled to introduce our upgrade program and enhanced service experience to the residents of The Gables,” said Ray Hutchinson, chief investment officer of Carter Multifamily.
Carter Multifamily plans to execute a value-add strategy by enhancing the amenity package, completing interior and exterior upgrades, and by implementing property management best practices.
Carter Multifamily is a private real estate company focused on multifamily real estate with value-add enhancement opportunities.
