Mooresville property expands firm’s North Carolina Portfolio
Dallas, TX– January 14, 2024 – RREAF Holdings, a privately held real estate investment and development management firm, is proud to announce the acquisition of 150 West, a multifamily property in Mooresville, North Carolina. This strategic acquisition marks RREAF’s entry into the rapidly growing Greater Charlotte market.
Originally built in 1999, 150 West consists of 201 units, with an average size of 812 square feet. The property offers a range of one-, two-, and three-bedroom apartments, providing desirable living spaces in a highly sought-after location. Residents will enjoy a variety of amenities, including a dog park, playground, fitness center, and swimming pool—all of which will be further enhanced as part of RREAF’s planned renovations. The property is situated in Mooresville, a high-demand submarket known for its excellent access to the major financial and business hub of Charlotte.
“Mooresville is an ideal location for expansion due to its proximity to Charlotte, its thriving local economy, and its strong demographics,” said Kip Sowden, Chairman and CEO of RREAF Holdings. “We see significant growth potential in this area, and 150 West stands out as an exceptional multifamily community, meeting the critical need for quality housing in the Greater Charlotte market.”
As part of its strategic investment in the property, RREAF Holdings has developed an extensive capital improvement plan for 150 West, that includes interior renovations to the units and exterior renovations to further enhance the property’s value and appeal. RREAF Construction Services, LLC (RCS), an in-house construction firm founded in 2020, will oversee the renovation efforts. RCS streamlines development with a team of construction professionals with over $8 billion in completed projects and a combined 150 years of experience. RCS will provide cost-effective solutions for RREAF’s development endeavors.
RREAF Holdings will also utilize its in-house property management firm, RR Living, to manage 150 West. With expertise in residential property management, RR Living oversees more than 12,500 units across 55 properties in 11 states. RR Living takes a personalized approach, managing each property as a unique opportunity to provide residents with an exceptional living experience.
“As we kick off 2025, managing 150 West represents an incredible opportunity to contribute to the vibrancy of this growing community,” said Melanie French, CEO of RR Living. “This property embodies our commitment to creating memorable living spaces that enrich communities. Mooresville’s dynamic growth presents a unique opportunity to serve residents with thoughtful amenities and outstanding service, ensuring 150 West becomes a cornerstone of this thriving area.”
About RREAF Holdings
RREAF Holdings LLC (“RREAF”) is a privately held, vertically integrated commercial real estate company based in Dallas, Texas, with roots that go back nearly 40 years in the industry. RREAF focuses its portfolio of commercial real estate projects and developments across five main verticals, catering primarily to middle America: a programmatic value-add multifamily acquisitions platform, opportunistic hospitality and resort acquisitions and development, large and highly amenitized master planned developments, acquisition / re-development of RV Resort Communities, and a ground-up extended stay hospitality development platform. For more information, please visit www.rreaf.com.
About RR Living
RR Living is a fully integrated property management firm specializing in workforce housing communities. The company currently oversees a multifamily portfolio of over 12,500 units spread across more than 55 properties in 11 states, primarily in the South, Southeast, and Southern Atlantic regions of the United States.
RR Living prioritize operational excellence, leveraging advanced platforms and a highly skilled team to enhance every community. This dedication delivers quality, affordable housing for middle America while fostering a welcoming environment for residents. By cultivating genuine care for both residents and team members, RR Living creates thriving communities that attract long-term tenants. For more information, please visit www.rrliving.com.
About RREAF Construction Services
Founded in 2020 as a vertical under RREAF Holdings, RCS streamlines development with a team of construction professionals with over $8 billion in completed projects and a combined 150 years of experience, RCS partners with owners, development teams, and contractors to deliver superior results and economies of scale.
Media Contact:
RREAF@5wpr.com
SOURCE RREAF Holdings LLC
