Wake Union

Tellus Partners, along with its partner, Varden Capital, have identified an outstanding multifamily project in Wake Forest NC.   The project will consist of 300 units delivered into a rapidely growing suburban Raleigh market. The Sponsorship team believes this is an excellent opportunity to capitalize on developing a premier Class-A property in one of the hottest submarkets in the Southeast.

Partnership views this as an excellent opportunity to deliver a market rate apartment community in an area that is primed for continued, steady growth. The Wall Street Journal ranks Raleigh as a top five job market in the United States, with thousands of high paying jobs and high growth in sectors such as leisure/hospitality and tech, both of which have expanded 9% YOY. Today residents are treated to a premier live-work-play destination filled with award winning restaurants, boutique retailers, and beautiful parks.

Wake Forest is an affluent suburb of this very solid market. With median income over $100,000, an easy commute to Raleigh, and strong demand for housing, it’s easy to see how this location is primed for new multifamily development. Within Wake Forest, the site is just a mile away from a quaint downtown area and adjacent to Hwy 1 which runs directly to Raleigh.