Hamilton Point Investments has picked up two apartment properties for a combined $32.2 million. Windsor Upon Stonecrest, a 220-unit complex is located in Burlington, NC, and was built in 2007. The second asset, called Lexington Apartments, features 190 units and is in Biloxi, Miss. The two properties were acquired through HPI Real Estate Fund IV LLC, which closed to new investors in December of last year. The fund has acquired 11 multifamily properties and has one acquisition under contract that will close in April. At that point the fund will be fully invested, having acquired 2,616 units for $214 million. The fund targets properties built after 2000 located in secondary markets for below replacement cost.
