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| Marc Robinson |
CHARLOTTE, NC (March 13, 2014) — Multi Housing Advisors
(MHA) has brokered the $11.95 million sale of the 200-unit Hidden Creek, an
apartment community located in Raleigh, N.C.
Marc Robinson and Jordan McCarley of MHA’s
Charlotte office represented the seller, AB Merion Hidden Creek LLC, an
affiliate of Merion Realty Partners, and was the sole broker in the
transaction. The buyer was FortCap Chatsworth LLC, an affiliate of Virginia
Beach, Va.-based FortCap Partners.
“The buyer interest we received for Hidden Creek was
tremendous and suggests that the Raleigh/Durham market remains a target for
many investors, despite the area’s notable multifamily development pipeline,”
Robinson said. “The new owner plans to continue the unit interior enhancements
that had been initiated by the previous owner.”
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| Jordan McCarley |
Hidden Creek is located at 2038 Quail Forest Dr. in north
Raleigh. The community, which was constructed in 1980, includes a business
center, fitness center, playground, swimming pool and laundry facilities.
For a complete copy of the company’s news release, please
contact:
Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)
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