A Winston-Salem apartment complex was recently sold for almost $32 million in Forsyth County’s most expensive multifamily sale of 2024.
Crowne Partners, based in Birmingham, Alabama, sold the Crowne Club apartment community in the South Fork neighborhood of Winston-Salem for $31.7 million, according to filings from the Forsyth County Register of Deeds.
The buyer was Winston-Salem Acquisition LLC, which lists Jeremey Rauch of Hewlett, New York, as its is registered in a filing with the N.C. Department of the Secretary of State. Rauch is a real estate finance professional, according to his LinkedIn page.
Neither Rauch nor Crowne Partners responded to requests for comment by the time of publication Wednesday.
The 250-apartment complex is two stories with a total 17,956 square feet and sits on 33.57 acres of land, according to property information from the Forsyth County Tax Department and Crowne Partners’ website.
Crowne Club offers a variety of floorpans in one- , two- , and three-bedroom units ranging from 850 to 1,400 square feet.
Crowne Partners began construction of its 238-unit Crowne at Hickory Grove development in March, about two years after it purchased 9.3 acres for $4.77 million at 3818 W. Wendover Ave. and 5953 and 5955 Hickory Grove Road, located between High Point and Greensboro. A spokesperson for the company said the project will include four four-story buildings and a 5,500-square-foot clubhouse.
Crowne Partners’ portfolio includes 51 communities and 12,499 units across 12 states. Its other complexes in the Triad include Crowne Gardens in Greensboro four communities in Winston-Salem — Crowne Park, Crowne Club, Crowne Polo and Crowne Oaks.
The Crowne communities in the Triad have an occupancy of above 90%, with Crowne Club having a 94% occupancy as of March.
| Rank | Prior Rank | Business name/Prior rank |
|---|---|---|
|
1 |
1 |
Hawthorne Residential Partners |
|
2 |
2 |
Ari Apartment Management |
|
3 |
3 |
BSC Holdings Inc. |
