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Samaritan Closes on $147M Tax-Exempt Bond to Finance Seniors Community

Samaritan Closes on $147M Tax-Exempt Bond to Finance Seniors Community

by Adriana Pop, Associate Editor Nonprofit Samaritan Housing Foundation Inc. will be obtaining $147 million in tax-exempt resource bond financing to fund the construction of SearStone Senior Citizens Community in Cary. According to CityBizList Atlanta, law firms Krevolin & Horst and Peck, Shaffer and Williams LLP arranged to secure the bonds issued by…

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Citrix Seeks New Space in Downtown Raleigh to Invest $12.5M

Citrix Seeks New Space in Downtown Raleigh to Invest $12.5M

by Adriana Pop, Associate Editor Citrix Systems Inc. plans to expand its data-sharing division by investing at least $12.5 million in a new facility in downtown Raleigh. The company chose Raleigh over Atlanta and Austin for its expansion. Jesse Lipson, general manager of Citrix Systems data sharing operations, told the…

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Wells Fargo, Pappas Properties to Develop Foreclosed Masterplanned Community

Wells Fargo, Pappas Properties to Develop Foreclosed Masterplanned Community

by Adriana Pop, Associate Editor Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart a 24-acre master-planned development that the bank had earlier foreclosed upon. According to the Triangle Business Journal, Pappas and the bank have jointly filed a a new master plan proposal and a rezoning request for…

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U-Haul Acquires 425-Unit Self-Storage Facility in Chapel Hill

U-Haul Acquires 425-Unit Self-Storage Facility in Chapel Hill

by Adriana Pop, Associate Editor U-Haul Company of Raleigh has expanded its network of self-storage locations with the purchase of an existing storage facility in Chapel Hill. Financial terms of the transaction were not disclosed. The new U-Haul Moving and Storage of Chapel Hill, formerly known as Ironclad Self Storage,…

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Alamance Regional Medical Center Plans $60M Expansion

Alamance Regional Medical Center Plans $60M Expansion

by Adriana Pop, Associate Editor Alamance Regional Medical Center is planning a $60 million expansion, the largest since the hospital opened in 1995. According to The Business Journal, the campus improvement project includes a two-story, 40,000-square-foot cancer center to be located at the end of the Medical Arts building. The…

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Federal Capital, Kane Partner to Develop $53M Apartment Community

Federal Capital, Kane Partner to Develop $53M Apartment Community

by Adriana Pop, Associate Editor North Hills developer Kane Realty Corp. and Washington, D.C. real estate investor Federal Capital Partners (FCP) have formed a joint venture to finance the development of a $53 million apartment project in the North Hills area of Raleigh. According to the Triangle Business Journal, construction…

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Highwoods Properties Buys $26M Building from its Partner

Highwoods Properties Buys $26M Building from its Partner

by Adriana Pop, Associate Editor Highwoods Properties Inc. has purchased full ownership of a 178,300-square-foot office building in Cary from its joint venture investor, in a transaction valued at $26 million. Highwoods had developed the four-story building located at 11000 Weston Parkway in 1998. One year later, the company sold 77…

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Raleigh Apartments Sell for Record $200,489-Per-Unit Price

Raleigh Apartments Sell for Record $200,489-Per-Unit Price

by Adriana Pop, Associate Editor Kane Realty Corp. has sold the Park & Market Apartments at North Hills East in Raleigh for $82 million. Dallas-based Crow Holdings Capital Partners acquired the multifamily property at a Triangle record price of $200,489 per unit. The Triangle Business Journal reports that Kane Realty…

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Nonprofit FHI 360 to Relocate HQ to American Tobacco Campus

Nonprofit FHI 360 to Relocate HQ to American Tobacco Campus

by Adriana Pop, Associate Editor FHI 360 plans to move its headquarters and about 400 employees to downtown Durham’s American Tobacco Campus next year. The transaction represents one of the largest leases signed in the Triangle in recent years, providing American Tobacco’s owner, Capitol Broadcasting, with an anchor tenant. The NewsObserver…

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Connor Group Pays $26M for 5th Acquisition in N.C. Market

Connor Group Pays $26M for 5th Acquisition in N.C. Market

by Adriana Pop, Associate Editor The Connor Group purchased Autumn Woods Apartments, a 236-unit luxury community located in Carrboro, for $26.25 million. The Ohio-based real estate investment firm bought the property from Fairfield Autumn Woods LLC of San Diego. The community sits on 14 acres and was built in 1997. The Triangle…

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Red Hat Subleases Headquarters Space from Progress Energy

Red Hat Subleases Headquarters Space from Progress Energy

by Adriana Pop, Associate Editor Red Hat plans to move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot,  hi-rise downtown. Red Hat will be subleasing the space from Progress Energy. The lease contract amounts to about $86.68 million, not including concessions, over the next 23 years., the Triangle Business Journal reports. The new building,…

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Three New Student Housing Complexes to Open Near N.C. State University

Three New Student Housing Complexes to Open Near N.C. State University

by Adriana Pop, Associate Editor Construction of three new luxury student complexes is underway near North Carolina State University in Raleigh, N.C. Slated to open simultaneously this summer, the three developments will offer a total of 1,770 off-campus bedrooms, the NewsObserver reports. In spite of the growing concern over the cost of…

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