Monday, November 2, 2015

Multi Housing Advisors Brokers $29.3 Million Sale of Apartment Community in Cary, NC

Marc Robinson
CHARLOTTE, NC — Multi Housing Advisors (MHA) has arranged the $29.3 million sale of The Reserve at Magnolia Ridge, located in Cary, North Carolina.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Greystone, in the transaction that was handled off market. 

The property was purchased by the Sterling Group, based in Mishawaka, IN. Sterling is an aggressive owner, operator, and buyer of multifamily assets throughout the Midwest and Southeast.

The Reserve at Magnolia Ridge was built in 1984 and its interiors were recently renovated. The property is comprised of 360 units and conveniently located at the junction of Interstate 40 and Interstate 440 in Cary, N.C.

For a complete copy of the company’s news release, please contact:

Deborah Rogers
Multi Housing Advisors

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