Monday Properties and RSN Property Group Acquire Bristol Park Apartment Homes in Fayetteville, NC

Monday Properties and RSN Property Group announce the acquisition of Bristol Park Apartment Homes, a 112-unit apartment community located at 1141 Glen Iris Drive in Fayetteville, NC. The property sits just minutes from The Summit on 401, which the partnership acquired in 2025, further deepening the firms' foot print in the Fayetteville market.

This transaction marks the fifth acquisition by Monday Properties and RSN Property Group in the past 18 months, bringing the partnership's combined portfolio to almost 1000 units across its growing multifamily platform.

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“Secondary Southeast markets like Fayetteville offer a fundamentally different investment equation than gateway cities, one where the math strongly favors disciplined value-add operators such as Monday Properties and RSN,” said Anthony Westreich, Co-Chief Executive Officer and Founding Managing Partner, Monday Properties. “The combination of attractive acquisition pricing relative to replacement cost and strong renovation return profiles creates a consistent pipeline of opportunities. Bristol Park is a clear example of our thesis in action.”

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“Fayetteville's rental demand is underpinned by a uniquely resilient mix of military, healthcare, logistics and manufacturing employment,” said Reed Goossens, Founder and Chief Executive Officer, RSN Property Group. “Our growing presence here reflects our conviction that this market rewards disciplined operators who understand its fundamentals.”

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Bristol Park offers two- and three-bedroom apartment homes ranging from 1,150 to 1,398 square feet in a gated community setting. Planned in-home features include new flooring, granite countertops, stainless steel appliances, modern fixtures and hardware, high ceilings, walk-in closets and washer and dryer connections. Community amenities include a swimming pool, fitness center, clubhouse, playground and an onsite dog park.

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Fayetteville's multifamily market continues to demonstrate the demand characteristics that first attracted Monday Properties and RSN to the market. According to data presented at the 2025 State of the Real Estate Market Luncheon, Cumberland County's multifamily market is operating at a vacancy rate of approximately 6.3%, while subsidized and tax credit housing carries zero vacancy and has wait lists of up to 200 households. Approximately 55% of Fayetteville households are renter-occupied, providing a deep and stable base of rental demand across the market.

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The city's rental market is anchored by Fort Bragg, the largest military installation in the United States, which supports more than 66,000 military and DoD positions and contributes an estimated $8 billion annually to the local economy. Fort Bragg's consistent rotation of personnel creates a structural, year-round source of rental demand that few secondary markets can match. The broader economy is further supported by major employers including Amazon, Goodyear and Cape Fear Valley Medical Center, with more than $1.1 billion in announced industrial investments underscoring institutional confidence in Cumberland County's growth trajectory.

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