Friday, October 16, 2015

MHA Brokers Sales of Three Raleigh-Durham, NC Apartment Communities for a Total $62.4 Million

Jordan McCarley
 CHARLOTTE, NC — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of three apartment communities for a total of $62.4 million.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions. MHA has now brokered the sale of seven properties in the Research Triangle Region over the past twelve months.

“With employment and population growth figures maintaining a fundamentally optimistic picture, investment capital continues to flow into the Triangle region,” Robinson said. 

“All three of these properties are uniquely positioned to benefit from thoughtful value-add initiatives that will bridge the gap between newer product, allowing promising rent growth and returns.”

Details of the deals are below:

·        Atlanta-based TriBridge Residential sold The Hamptons at RTP to Cortland Partners, also based out of Atlanta, for $34.6 million. The 286-unit property is located in Durham, N.C. and was built in 1998.

·        Los Angeles-based Robertson Properties Group sold Emerald Forest to Somerset Partners, based out of New York. The 320-unit property is located in Durham, N.C. and was built in 1985.

·        New York-based JEM Holdings purchased Westchester from Carlisle Residential, based out of Greensboro, S.C., for $8.25 million. The 160-unit property is located in Garner, N.C., just south of downtown Raleigh.
 For a complete copy of the company’s news release, please contact:

Deborah Rogers
Multi Housing Advisors

No comments: