Hudson Capital Properties (HCP), a multifamily real estate investment and development firm focused on value-added acquisitions in Southeastern US markets, today announced the sale of Center Point Apartments in the Research Triangle submarket of Raleigh, NC. Center Point is a 392-unit residential community located near major employment centers and transportation corridors.

“As we continue to build our portfolio over the long term in Raleigh and our other target markets in the Southeast, we are also making selective dispositions where pricing is strong and business plans have been achieved and exceeded,” said Robert B. Cohen, II, Chief investment Officer of HCP. “The sale of Center Point is a great example of how we manage our portfolio and position ourselves to redeploy capital into new investments.”

Center Point is located just minutes away from the Beltline, Highway 70 and new 540 highway, Research Triangle Park, shopping and restaurants. Northeast Raleigh is one of the largest and most dynamic submarkets in the area and has been the target of investment in the form of developments and acquisitions. Demand is driven mainly by young professionals working in the submarket, which is home to some of Raleigh’s largest office-using employers.

For acquisitions, HCP targets assets that deliver immediate value through improved cash flow by seeking properties valued at or below their replacement cost, with attractive stabilized yields, and have the potential to add value through capital improvements. The firm and its principals invest considerable equity capital into its transactions and take a true owner-operator’s view of the strategy and timeline for each investment. HCP’s target markets have high barriers-to-entry and supply constraints with regard to properties located in established neighborhoods, CBDs and in educational and medical centers and often in state capitals. HCP is an expert at sourcing deals, frequently transacting with capital constrained sellers that have completed some phases of value add, and with sponsor groups seeking early exit following a quick uptick in value.

About Hudson Capital Partners

Founded in 2009, Hudson Capital Properties (HCP) is a multifamily real estate investment and development company. Through its affiliated companies, Hudson Capital acquires, owns, and operates a portfolio of multifamily properties in the Southeastern United States that currently comprises over 6,500 units, and is currently constructing more than 500 apartment units just outside of Manhattan. Led by industry leaders James S. Cohen, Frank Huttle III and Robert B. Cohen II, the HCP team has developed a track record of value creation through the acquisition, development, and management of multifamily properties. With in-house expertise in development, construction, asset management and finance, HCP has proven its ability to source opportunities, close transactions quickly and efficiently manage and perform large scale improvements on its properties.