Raleigh-Durham
Hudson Capital Buys 512 Units in NC, GA
The company purchased two communities—Cary Reserve at Weston and Willow Trail—for $66 million, with the aim of investing an additional $7 million for capital improvements.
Multifamily Markets Positioned to Win in 2018
Above-trend population increases and job gains in non-gateway cities are generating strong investor and resident demand for multifamily housing, explained IRT Chairman & CEO Scott Schaeffer. Here are three such markets poised to benefit from this trend in 2018.
JV to Invest $550M in National Portfolio
Cortland Partners, Canada Pension Plan Investment Board and GIC plan to acquire and renovate 8,000 to 10,000 Class B multifamily units across the U.S.
AZ, NC Senior Housing Lands $50M
Greystone arranged the construction financing for the assets, which will comprise a total of 386 units.
Inland Group Lands $50M NC Community
Inland Real Estate Acquisitions closed the purchase of a 304-unit community in Knightdale, N.C. Senior Vice President Mark Cosenza completed the deal with assistance from Brett Smith, assistant vice president & associate counsel of The Inland Real Estate Group.
Former Durham Hotel to Become 342-Unit Community
Alliance Residential purchased Crown Park Hotel, the company’s first asset in the Triangle. Karl Hudson with Foundry Commercial represented the buyer in this $10.5 million transaction.
Taurus Nabs NC Apartments for $54M
The company plans to renovate the 302-unit Brook Arbor Apartments, located in Cary. Additionally, it intends to work with The Dolben Co. to incorporate select sustainability upgrades and a renewable energy system.
Beverly Hills Firm Enters NC Market With $37M Buy
Peter Sherman, Craig Cadwallader, Grant Linderman and Sam Chow with Avison Young represented Inco Montera, the buyer of Woodfield Glen Apartments in Raleigh. ARA Newmark worked on behalf of the seller, Grayco Inc.
CalAtlantic Homes Opens Raleigh-Area Community
Silver Grove is a new townhome property in Cary, N.C., five miles from the Research Triangle Park. Pricing starts in the low $300,000s.
Raleigh: Solid Fundamentals Round Triangle’s Edges
Population gains and steady rent growth are luring multifamily investors and developers to the Research Triangle. Demand is outstripping supply, but with more than 5,000 units scheduled for completion by year-end, that trend is likely to moderate.