PINECREST VILLAGE – 152 UNITS IN ROCKINGHAM, NC

DEATON is pleased to present the exclusive offering of Pinecrest Village, located in Rockingham, N.C.

Pinecrest Village presents a rare opportunity to acquire an established, conventional, workforce housing community of 152 units in the Rockingham-Hamlet market at an attractive basis with meaningful embedded upside. The property is the only conventional multifamily community of scale in the market, providing investors with operational efficiencies in an area with extremely limited competitive apartment supply.

The property is located approximately 10 miles from Amazon Web Services’ $10 billion Energy Way Tech Campus, one of the largest economic development investments ever announced in North Carolina. Development is underway, with multiple buildings vertical and Amazon actively recruiting for data center operations, infrastructure, engineering, construction and management positions in Hamlet. The campus is expected to create more than 500 permanent jobs in addition to substantial construction and supporting employment.

Pinecrest Village also offers a compelling in-place mark-to-market opportunity. Recent leasing activity demonstrates continued rent growth, with one-bedroom units currently being signed at approximately $850 and two-bedroom units at approximately $945. These achieved rents are approximately 7.0% above average in-place rents and significantly above many legacy leases throughout the property, providing meaningful embedded mark-to-market opportunity as leases roll and near-term organic NOI upside.

The opportunity offers investors an attractive basis, demonstrated rental upside, limited competing supply and direct exposure to a transformational economic catalyst. Together, these factors create a differentiated opportunity to acquire scale in a market positioned for continued employment, household and rental-demand growth.