AVAF3 has identified Midtown 501 in Chapel Hill, North Carolina, as the first acquisition into the fund. We were awarded this deal due to our strong relationship with the seller and our track record of closing surety.
Midtown 501 will be acquired at approximately 25% below previous market rates. It’s location in Chapel Hill is one of its greatest attributes. The school district (Chapel Hill Carrboro County School System) that serves the property has been ranked by Niche.com as the #1 school district in North Carolina. The average household income within a 1-mile radius of the property is greater than $127,000 per year, and 80% of residents are college educated.
Remember to join us on our conference call, it's your opportunity to learn more about AVAF3 and Midtown 501.
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