Durham, N.C.—HFF recently announced that it represented East West Partners in the sale of Environs at East 54, a 58-unit community in Chapel Hill, N.C., to a private investor. The new owner rebranded the project as Environs Lofts and will continue to operate it as a luxury boutique community in the Research Triangle market. The price of the transaction was not disclosed.
Located at 5105 Environ Way, the property is near various amenities within the East 54 development, including The Fresh Market, Finley Golf Course, onsite greenway and walking trail access. It also provides direct bus connectivity to the University of North Carolina, situated just 1 mile away.
According to Yardi Matrix data, Environs at East 54 consist of 28 one- and 26 two-bedroom units, averaging 892 square feet. The LEED-certified community features apartments with 10- to 12-foot ceilings, island kitchens with granite countertops and stainless appliances, built-in wine racks, glass showers with tile surrounds, walk-in closets, oversized windows, hardwood-style plank flooring, in-unit washers and dryers and patios. The five-building community includes a rooftop swimming pool, fitness facility, interior storage, structured parking and controlled access.
Image courtesy of Yardi Matrix