Lantower Residential Pays $74M for Luxury NC Community
- Nov 07, 2018
HFF facilitated the sale of and acquisition financing for Weston Corners in Cary, N.C. The newly built 308-unit community traded for $73.9 million. Managing directors Justin Good and Jeff Glenn, Senior Director Allan Lynch and Director Caylor Mark represented seller Woodfield Development and also procured the buyer—Lantower Residential. Moreover, HFF Senior Directors Jamie Leachman and Roger Edwards arranged the acquisition loan through New York Life Real Estate Investors on behalf of the new owner.
Located at 6000 Elevate Circle, the luxury property is close to Research Triangle Park, Raleigh-Durham International Airport, North Carolina State University via Interstate 40 as well as downtown Raleigh, Durham and Chapel Hill. According to Yardi Matrix data, Weston Corners features a mix of studios, one-, two- and three-bedroom units, ranging between 703 and 1,642 square feet. Amenities of the three-building asset include:
- a swimming pool with sundeck
- outdoor kitchen
- sky terrace
- fitness center with yoga room
- game room
- dog spa
- clubroom with kitchen
- Wi-Fi lounge
This summer, the same HFF brokers facilitated the $69.3 million sale of a recently completed residential property in Uptown Charlotte, N.C. The company worked on behalf of seller Dominion Realty Partners.
Image courtesy of Yardi Matrix
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