Laramar Group acquires 694 units

Amenity-rich apartments to get upgrades
Published on Feb 20, 2008

The Laramar Group today announced that its Multifamily Value Fund has acquired the Waterford Lakes Apartments in Charlotte, N.C., for an undisclosed price. The 694-unit property, located at 8000 Waterford Lakes Drive, is the 13th acquisition for the fund, which launched in December 2006. The unit mix includes one-, two- and three-bedroom apartments. Property amenities include an on-property duck lake, tennis courts, two swimming pools, a fitness center, an indoor racquetball court, sand volleyball courts, a cinema room and a residential business center. Laramar will upgrade the property with $4 million of improvements, including renovation of unit interiors with new kitchen and bath cabinets, addition of new amenities such as a new Internet Cafe, and exterior enhancements. ...

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