Dominium announced it has acquired Magnolia Pointe, a 266-unit multifamily housing community in Durham, North Carolina. The developer plans to resyndicate Magnolia Pointe in Spring 2026, preserving its affordable housing status while completing a $10.6 million renovation. Magnolia Pointe marks the company’s first acquisition in the Raleigh-Durham metro area.
Renovation plans include upgrades to the building exteriors, unit interiors, clubhouse, outdoor amenity spaces, landscaping and more. Originally constructed in 2006 using the 4% Low-Income Housing Tax Credit (LIHTC) program, Magnolia Pointe comprises 15 garden-style residential buildings, offering one-, two- and three-bedroom apartment homes each featuring private balconies or patios…