Thursday, March 13, 2014

Multi Housing Advisors Brokers $12 Million Sale of Raleigh, NC Apartment Community

  
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.”
  
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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