Progress Realty Partners Acquires Multifamily Property In Winston-Salem, NC For $8.4M

Progress Realty Partners has acquired a multifamily property in Winston-Salem, NC, consisting of 143 units. The property, located at 2225 Silas Creek Parkway, 2056 Swaim Road, and 3844 Wabash Blvd., was purchased for an undisclosed amount. The acquisition was financed by a loan provided by Skyline National Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Undisclosed
• Loan Amount: $8,400,000
• Loan Type: Acquisition
• Lender: Skyline National Bank
• Landlord: Progress Realty Partners - Adam Dickert & Dan Salonis
• Broker: Brian Anderson - Progress Capital

Brian Anderson, representing Progress Realty Partners, and Dan Salonis played key roles in the transaction as brokers. The deal, which closed on June 8, 2022, involved the acquisition of the multifamily property at 2225 Silas Creek Parkway, 2056 Swaim Road, and 3844 Wabash Blvd. Progress Realty Partners secured the financing for the acquisition with an $8,400,000 loan from Skyline National Bank.