Raleigh-Durham
Raleigh’s Smoke-Free Apartment Communities in High Demand
Residents at the new Water Garden Village community in northwest Raleigh can breathe easy on the entire 11-acre property. According to WRAL, the recently opened 100 percent smoke-free apartment complex has been quite successful, leasing within nearly a month of opening. Located at 8441 Mount Valley Lane, the 60-unit community…
Continue reading →Centennial Acquires Multi-Family Complex from JP Morgan Affiliate for $39M
Atlanta-based Centennial Holding Company LLC has recently purchased the 270-unit Addington Farms apartment community in Durham, which it renamed Century Trinity Estates. The Triangle Business Journal reports that an affiliate of J.P. Morgan Investment Management Inc. of New York has sold the property for $38.6 million. Located at 240 Ivy Meadow…
Continue reading →Brookfield Acquires Apartment Communities in the Triangle for $108M
Brookfield Asset Management Inc. has purchased five multi-family properties in the Triangle region, as part of its $414 million deal to acquire a total of 19 apartment communities in North Carolina, South Carolina and Virginia. Babcock & Brown Residential, the seller of the 4,892-unit portfolio was advised by Robert W.…
Continue reading →KBS Realty Acquires Iconic Building in Suburban Raleigh for $98.4M
On January 31, a joint venture partnership between the Indianapolis-based real estate investment trust Duke Realty Corp. and the Raleigh-based real estate development firm Kane Realty Corp. sold the prestigious 17-story Captrust Tower in the city’s North Hills area. KBS Realty Advisors of Newport Beach, California acquired the approximately 300,000-square-foot…
Continue reading →Grubb Properties to Develop 203-Unit Link-Branded Apartment Complex in Raleigh
Grubb Properties is planning a 203-unit luxury apartment complex in Raleigh’s Glenwood South district. According to the NewsObserver, the project will be developed on half a block bordered by Jones, West and Harrington streets. “We think it’s one of the best sites, certainly in the Triangle market, and one of the…
Continue reading →$55M Mixed-Use Development in Downtown Chapel Hill Nears Completion
The 140 West Franklin development, one of Chapel Hill’s largest mixed-use projects, will be complete by late April. Located at the intersection of West Franklin and Church streets, the venture is expected to boost economic activity and bring new markets to the town. According to The Daily Tar Heel, the…
Continue reading →Hampton Hotel Opens 11th, 136-Room, Property in Raleigh
by Adriana Pop, Associate Editor Global hospitality brand Hampton Hotels announced the opening of the Hampton Inn & Suites Raleigh/Crabtree Valley. Located at 3920 Arrow Drive, on the site of the former Crabtree Inn building, the 136-room hotel is the 11th Hampton property in Raleigh. Amenities include a business center, meeting…
Continue reading →New York Opportunity Fund Closes on $5.2M Acquisition of Long-Vacant Downtown Building
In a $5.2 million deal, real estate investor Howard Lavitt and his partners at LRC Opportunity Fund of New York have acquired the long vacant, 11-story office building in downtown Raleigh. The Triangle Business Journal reports that the transaction closed on Dec. 21. Ben Kilgore with CBRE in Raleigh represented…
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