Northmarq arranges sale and acquisition financing of The Retreat at Copper Creek in Greensboro, NC

GREENSBORO, N.C. (Jan. 13, 2025) — Northmarq’s Carolinas Multifamily Investment Sales team of John Currin, Allan Lynch, Chris Schultz, James Dorsett, Jeff Glenn, Andrea Howard and Caylor Mark successfully completed the sale of a 224-unit garden-style multifamily community in Greensboro, North Carolina. Built in 1974, The Retreat at Copper Creek is situated on approximately 22 acres with connectivity to both work and play.

Northmarq represented the seller, Sandhurst Apartment Management. The buyer was Prospect Lane.

Faron Thompson and Grant Harris of Northmarq’s Debt + Equity team secured the acquisition loan for the buyer through the firm’s in-house Fannie Mae DUS team. The permanent fixed rate loan was structured on a 5-year term.

“We are thrilled to announce the successful sale of Retreat at Copper Creek, which underscores the renewed economic growth and growing appeal of the Triad region,” said Currin.

The Retreat at Copper Creek is ideally located within a 20-minute commute to more than 205,000 jobs, with connectivity to Interstate 40. The property is situated near the main thoroughfare of West Gate City Boulevard (25,000 vehicles per day) between Interstates 40 and 73, allowing residents a short drive to over 4 million square feet of retail space, downtown Greensboro (10 minutes) and Piedmont Triad International Airport (10 minutes).

“This was Northmarq’s first opportunity to partner with Prospect Lane, and our team went above and beyond to deliver exceptional results,” said Thompson. “Through tireless collaboration with the Prospect Lane team, we achieved a successful outcome that we’re proud of—and we’re excited about the potential for many more successful partnerships in the future!”

Since 2018, The Retreat at Copper Creek has undergone over $3.2 million in capital investments, which include balcony replacement/repair, upgraded laundry rooms, stainless steel appliance installations and more. The garden-style community offers one-, two- and three-bedroom apartment homes ranging from 530 to 1,000 square feet. Each unit includes a patio/balcony, linen closets, laminate kitchen countertops and cultured marble in bathrooms. Residents also enjoy an outdoor pool, 24-hour fitness center, playground and on-site laundry facilities. Select apartment amenities include: Walk-in closets, kitchen pantry, new white shaker cabinet tops, vinyl plank flooring and washer/dryer connections.