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| 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
404.645.7275
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