Brandywine at Lafayette Apartments in Fayetteville has been purchased by Texas real estate company Napali Capital. The company cited the city’s consistent economic and population growth as reasons for the purchase.

“Brandywine at Lafayette is a quality asset in an area of consistent economic and population growth,” said Napali Capital co-founder and Managing Partner Thomas Black. “And since the inventory in the area is limited, it allows for a very favorable outlook for our investors.”

As part of its plan to rebrand the 113-unity property as the Residences at Towne Crossing, Napali Capital will invest nearly $540,000 to implement a comprehensive renovation program to modernize units, refresh landscaping and address minor amenity improvements to continue to enhance the lifestyle for residents, according to multifamilybiz.com

Brandywine at Lafayette is located on Belle Drive off Brandywine Boulevard near Ga. Highway 54 West

The area in which Brandywine at Lafayette is located experienced a nearly 30 percent growth in population since 2000 and is forecasted to experience continued growth, according to multifamilybiz.com.