Prudent Growth Purchases Coastal Townhomes in North Carolina

Prudent Growth Purchases Coastal Townhomes in North Carolina

Prudent Growth Partners, LLC, a private equity real estate firm based in Chapel Hill and Charlotte, NC, has completed its $5.8 million acquisition of Coastal Townhomes, a multi-family property in Havelock, North Carolina.

Coastal Townhomes have been well-maintained and are a stabilized asset in a supply-side market. It is currently 97% occupied, with forty-one units having undergone new renovations, nine units with partial renovations, and twenty-two units having classic finishes.​

Located in the coastal region of eastern North Carolina, Havelock sits along the Neuse River, between New Bern and the beach towns of the Crystal Coast. It is home to the world's largest Marine Corps Air Station, Cherry Point. Besides military jobs and support services, Havelock is in close proximity to the local and tourist-driven economy of New Bern, connected by the new I-42 Highway, which is expected to be completed in 2026. Upon completion, the interstate project is expected to further enhance Havelock's economic and geographic standing.

"We are excited to add Coastal Townhomes to our multi-family portfolio. This community represents a strong investment in a solid market, and we see tremendous opportunity to both preserve and enhance its long-term value. We look forward to continuing our commitment to providing quality housing and creating a positive impact for Havelock residents," said Tom Hahn, President of Prudent Growth Partners, LLC.

Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. The firm focuses on properties that tend to be overlooked by larger institutions and provide exceptional returns on invested capital, along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.