Why Centennial Lofts?

Raleigh Leads the Research Triangle – The Triangle — the 12-county region anchored by Durham, Chapel Hill, and state capital Raleigh (Wake, Durham, Orange counties) — consistently ranks nationally as a best place to live, work, and obtain a world-class education. Home of the Research Triangle Park, this region boasts one of the most dynamic and competitive economies in the world. North Carolina has been ranked as the #1 place to do business 4 out of the last 6 years. Raleigh continues to lead that charge within the state. The Raleigh area will continue to grow, and its real estate will appreciate significantly over the next 20 years.

Approved Concept – Our team worked proactively with the City of Raleigh’s zoning, planning, permitting and compliance departments, to get a “thumbs up” on our business plan for the property. The city reviewed our initial drawings along with our plans and compared those to the property’s in-place zoning. No re-zoning was required, and the city provided us with the exact steps we needed to complete to receive full approval and permitting.

Significant Discount – By purchasing the property as 53 units and bringing an additional 29 units online, without new construction, our team brought the all-in price per door down to $127k. This represents a significant discount over Raleigh’s normal $170k-$200k+ per door pricing. By year 2 our team will be able to add more than $7.8M in value to this property.

Growing MSA – Raleigh’s job growth is the fastest growing among all metro areas in North Carolina, growing by 28.5% from 2010-2020. Throughout the Triangle, rising investment in tech is supporting well-above-average job creation in professional and business services, and population growth of three times the national pace is fueling job gains in consumer industries. Apple, Amazon, Google, Meta (Facebook), Fujifilm, Vinfast and many others all announced major investments in job creation in the RTP MSA in the last 18 months. Contributing to Raleigh’s already established claim as the #2 fastest growing metro in the US.

The Investments Projected Returns

Aside from the great return on investment, we especially like the fact that the capital we invest is scheduled to be returned to us around year three while we still maintain our overall stake in the investment. This allows us to reinvest our capital in another property while still getting returns from this one.