ABODE NEWSROOM

Apartments, for-rent townhomes coming to Wendell Falls

infoabodecommunities@gmail.com (Sarah Spain) — Tue, 02 Jan 2024 16:48:05 GMT

// source: triangle business journal

Apartments, for-rent townhomes coming to Wendell Falls

RALEIGH, N.C. — A master-planned community in eastern Wake County is growing with two new residential additions planned.

A multifamily community with hundreds of apartments and the community’s first build-for-rent homes are coming to Wendell Falls . The development partners closed on two deals — one with Chaucer Creek Capital LLC for the multifamily portion and one with Abode Communities of Edgewater Ventures for the build-for-rent portion.

Both the multifamily units and townhomes will be along Wendell Valley Boulevard in the northeastern portion of Wendell Falls.

New townhomes by Crabtree Mall are now for rent

infoabodecommunities@gmail.com (Sarah Spain) — Wed, 19 Apr 2023 14:04:22 GMT

// source: triangle business journal

New townhomes by Crabtree Mall are now for rent

RALEIGH, N.C. — What would have been for-sale townhomes near Crabtree Valley Mall in Raleigh will now be for rent as the partially-developed community has changed ownership.

M/I Homes (NYSE: MHO) of Ohio was the initial developer behind Altair , an 88-unit townhome community off Blue Ridge Road, and had plans to sell the two- and three-bedroom homes in the high $300,000s.

But on March 29, M/I Homes sold all the lots, including the 17 already finished homes, to a joint venture between PCCP, a NY-based finance and investment management firm, and Abode Communities, a build-to-rent company under Edgewater Ventures of Raleigh, according to Wake County deed records.

The two companies paid $7.663 million for the 14 acres and 17 finished homes at 3709 Nova Star Lane. Edgewater Ventures Principal Justin Good said that eventually, PCCP and ABODE Communities will purchase all of the homes after M/I Homes finishes building them. The remaining 71 townhomes will be delivered in phases with an anticipated completion by the end of 2023. Full buyout will be complete by the end of 2023.

PCCP, Abode to Develop Near Downtown Raleigh

infoabodecommunities@gmail.com (Sarah Spain) — Thu, 10 Feb 2022 15:43:26 GMT

// source: rebusinessonline.com

Three Built-to-Rent Residential Communities coming Downtown Raleigh

RALEIGH, N.C. — PCCP LLC, in a joint venture with Abode Communities LLC, plans to develop three build-to-rent (BTR) communities near downtown Raleigh totaling 73 detached homes. The three inﬁll communities will include a mix of single-family homes and townhomes, complete with a variety of neighborhood amenities. The three properties will be located within a half-mile from Raleigh’s central business district.

The joint venture closed on its ﬁrst site, ABODE at Hargett, in August of this year. The two companies expect to acquire the remaining two sites — ABODE at Courtland in Raleigh’s Mordecai District and Abode at North State in the city’s historic Oakwood district — by the beginning of 2022.

ABODE Communities is an operator of BTR and SFR communities and is based in Raleigh. PCCP is a real estate finance and investment management firm based in Los Angeles.