Exclusive: Durham Community Trades for $32M
The buyer assumed a Fannie Mae loan on the property.
Walde Enterprises has purchased Collins Crossing, a 268-unit multifamily community in Carrboro, N.C., according to Yardi Matrix information. Laramar Group sold the asset for $31.5 million.
The buyer assumed an approximately $29 million, 10-year term Fannie Mae loan originated by Berkadia Commercial Mortgage in 2019. Cushman & Wakefield represented the seller.
Collins Crossing had previously traded in 2019, when Laramar Group acquired the property from Aspen Square Management in a $38.5 million deal.
The community includes 29 buildings rising three stories that were completed in phases between 1971 and 1985. It is located at 501 Jones Ferry Road on roughly 19 acres, within the larger Chapel Hill submarket of Raleigh-Durham, N.C.
Collins Crossing is close to multiple retail options in the area and to North Carolina Highway 54, a regional corridor linking Carrboro and Chapel Hill to the larger Research Triangle area. The University of North Carolina at Chapel Hill, the largest employer in the submarket, is 4 miles away, while downtown Durham, N.C., is 15 miles away.
Collins Crossing comprises two- and three-bedroom units, with floorplans ranging from 840 to 1,150 square feet. Apartments include stainless steel appliances, in-unit washers and dryers and private balconies or patios in select units.
Common-area amenities include a swimming pool, cabanas, tennis and pickleball courts, laundry facilities and 800 parking spots.
Vice Chairman Paul Marley, Senior Director Hunter Bowling, together with Senior Associates Laney Orr and Rhodes Marley worked on behalf of Laramar Group.
Capital flow continues in Raleigh-Durham
Raleigh-Durham’s multifamily market showed softening fundamentals going into the second half of 2026 with, according to a recent Yardi Matrix report. The metro’s employment rate rose 1.6 percent in 2025—100 basis points above the national figure—as it registered 16,500 jobs. Education and health services accounted for nearly half of that total.
The metro’s multifamily transaction volume slowed during the first four months of the year, recording $195 million in deals—significantly lower compared to last year’ $444 million during the same period. Raleigh-Durham’s investment activity declined from the $5.4 billion peak in 2021.
Nevertheless, recent investor activity mirrors continued interest in the metro. In late August, Greystar sold Milo, a 252-unit property in Raleigh to a private investor. The community came online in 2024 with the help of a $43.6 million construction loan.
During that same month, Turnbridge Equities paid $71.9 million for SkyHouse Raleigh, a 320-unit luxury residential tower in the city’s downtown. World Wide Group sold the 23-story building after 10 years of ownership.
