Summary
The Property is a 272-unit multifamily apartment community in Aberdeen, North Carolina, formerly known as “Hawthorne at the Pines” and now called “Southern Pines Reserve.” Situated at 800 Churchill Downs Drive on approximately 21.31 acres, the community includes 34 residential buildings with a mix of 96 direct-entry townhomes and 176 garden-style apartments, along with a clubhouse/leasing office and a fitness center, totaling 288,480 net rentable square feet. There are 622 parking spaces, comprised of 493 surface spaces, 73 garage spaces, and 56 ADA spaces. Built in two phases between 2000 and 2003, the apartments feature large kitchens with bar top seating, wood-style plank flooring, washer and dryer connections, high ceilings, ample closet space, private patios or balconies, and standard appliances, with select units offering upgrades such as plantation blinds, scenic views, and microwaves. Community amenities include a state-of-the-art fitness center with Echelon Mirror and Bike, a Starbucks coffee bar with clubhouse Wi-Fi, an expanded putting green, upgraded clubhouse with coworking lounge, poolside cabanas, leash-free dog park, grilling pavilion, resort-style lounge pool with padded loungers, complimentary Wi-Fi in amenity spaces, laundry facilities, playground, ample parking, and a pet spa. The Property is centrally located in the Pinehurst-Southern Pines Metro area of Moore County, adjacent to US Route 501, US Route 1, and State Route 27, providing excellent accessibility with nearly 60% of the market’s retail within a five-minute drive. The surrounding retail includes six grocery stores and major anchors such as a new 150,000-square-foot Target that opened in October 2024. The community is also within five minutes of the Southern Pines Historic District, a vibrant shopping and dining destination, and sits directly across from the restored Southern Pines Golf Club, recognized as one of Golf Digest’s Top 100 Public Courses.
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