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Investment firm purchases Greenville apartment complex


Monday, September 3, 2018

Carter Multifamily Fund Management Co. has acquired a 171-unit apartment community in Greenville for $14.8 million.

The complex, Signature Place Apartments, offers five floor plans of Class B garden-style and townhouse units for rent and is located in Greenville’s Medical District, within walking distance of Vidant Medical Center, which is Pitt County’s largest employer, and East Carolina University’s Health Sciences campus.

Rent rates at Signature Place — constructed in 1980 — range from $805 per month for a one bedroom floor plan to $975 per month for a 1,300-square foot, three-bedroom floor plan.

“Signature Place is a true middle market America apartment community that offers residents quality, affordable housing that feels less like an apartment complex and more like a neighborhood,” said Cindy Pfeifer, CEO of Carter Multifamily, in a statement.

Tampa-based Carter Multifamily expects to improve the property. Plans include a community pool, dog park and fitness center upgrades, as well as livable outdoor spaces with a communal kitchen, fire pits and seating near the pool.

Units and common areas will receive flooring, appliance and lighting upgrades. The building exterior will also be renovated.

“Carter Multifamily plans to enhance and update the on-site amenities and living spaces to provide a more desirable community for the residents while also enhancing overall property value,” says Pfeifer.

This plays to firm’s strategy of a value-add approach to multifamily properties in regions with growth potential. A 2017 census showed Pitt County’s population grew 6.5 percent to 168,148 people since 2010, though that is down from the 26 percent growth experienced between 2000 and 2010.

“To see 6.5 percent is healthy and very strong growth compared to what we are seeing nationally,” said Bob Coats, the governor’s census liaison and coordinator with the North Carolina State Data Center.

“North Carolina has seen such strong growth for the past few decades,” Coats said. “We look at 6.5 percent and may think it’s not as robust as it should be, but we’re just in an area seeing a lot of growth in general.”

This marks Carter Multifamily’s first North Carolina acquisition, and second overall, following a 168-unit purchase in Jacksonville, Florida, in June 2018.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism


Humans of Greenville


Local photographer Joe Pellegrino explores Greenville to create a photographic census of its people.


December 10, 2018

The following civil lawsuits were filed Sept. 27-Oct. 1, 2018, in Pitt County:

■ Midland Funding LLC v. Paul Hadel, collection on account, Sept. 27; voluntary dismissal without prejudice by plaintiff, Nov. 1; 18CVD 2677.

■ Midland Funding LLC v. Merwyn King aka Royce King, collection on account,…

December 10, 2018

With federal flood insurance payments to North Carolinians for Hurricane Florence totaling over a half-billion dollars, officials are urging those who don’t have coverage to purchase it.

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December 10, 2018

PCS Facility Services promotes two employees

Pitt County Schools Facility Services has announced the promotion of two new employees to its district office of Facility Services.

Cedric Blow of Sam D. Bundy School in Farmville and Reginald Stocks of Ayden Middle School joined the staff of Custodial…


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AgCarolina Farm Credit has announced a record donation of toys from members and employees for local needy children. A total of nearly 950 toys were collected in the fourth year of AgCarolina’s participation in the toy drive.

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LIFE of NC, a Pitt County nonprofit organization and affiliate of the national STRIVE job readiness and attitudinal training program, has named a new executive director, Robert G. Lee. Lee succeeds long-time leader Joyce C. Jones whose retirement is effective December 20.

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Within my first six years in the U.S. Army, I had been a member of four different battalions, been a member of two combat arms branches, evaluated leaders from six different battalions, and been across the world and the United States.

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December 10, 2018

THURSDAY: The Pitt Community College Small Business Center is hosting a free seminar from 6-9 p.m. entitled ‘Writing a Business Plan.’ Success in business begins with a plan. By committing your idea to paper, you face tough questions and identify strengths and weaknesses. Contact Wendy…

December 10, 2018

The following deeds of trust were recorded with the Pitt County Registrar of Deeds from Nov. 29-Dec. 5:

■ James Paul Wynn, Sarah Currin Wynn to Angel Oak Home Loans LLC $172,000

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December 10, 2018


The City of Greenville Inspections Department issued the following permits for Nov. 27-Dec. 3:

■ De Luna Enterprises LLC, new commercial business, 200 W. 14th St., $0.

■ William G. Blount, 2101 Mimosa Court, storage/accessory, $15,000.

■ Merrimon Sydnor Bailey, 201 Churchill Drive,…

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