Napali Capital, LLC, a leading Texas-based real estate investment company announces the acquisition of Destination at Union apartment community in Gastonia, North Carolina.
Napali Capital and subsidiary Napali Residential Group will own and operate the 174-unit complex, and plans to invest upwards of $1.7MM in asset improvements. Plans for renovations include upgrading interior units with new appliances, flooring, interior painting, textures and best-in-class countertops. Additionally, improvements will be made to the common areas and exterior buildings, including new resident grilling stations, updated landscaping, upgraded resident storage facilities, and brand new balconies and patios for all units.
The garden-style community features a resort-style pool and sundeck, fitness center, clubhouse and laundry facilities plus on-site maintenance and management.
Located just 30 minutes outside of Charlotte, the community offers residents a superior location with convenient access to Uptown plus many nearby retail, restaurant and entertainment destinations.
“We are pleased to expand our investment portfolio with the addition of the Destination at
Union in North Carolina, a strong economic market that continues to grow and presents a number of investment opportunities. We look forward to assuming management and operations immediately to provide best-in-class service and amenities for our residents, and ultimately provide a great return for our partners,” said Napali Capital Co-Founder and Managing Partner, Tim Black.
Napali Capital and Napali Residential Group also own and operate The Residences at Belmont, located in Belmont, North Carolina.
Destination at Union is located at 1272 Union Road in Gastonia, North Carolina 29054.