Raleigh-Durham
Eller Capital Partners Acquires Value-Add Opportunity in Chapel Hill for $3.6M
Eller Capital Partners has recently acquired the Colonial Arms Apartments on Hillsborough Street in Chapel Hill. The company paid $3.6 million for the 41-unit, townhouse-style community, which it rebranded as 612 Hillsborough.
Out-of-State Investor Group Buys Crabtree Valley Office Building for $7M
The five-story TrustAtlantic Bank office property at the corner of Glenwood Avenue and Creedmoor Road in Raleigh has a new owner.
Two Capital Breaks Ground on $30M Multi-Family Development in a Top 50 Master Planned Community
Construction has begun on Capital Creek, a 214-unit multi-family complex within the Heritage master-planned community in Wake Forest.
Joint Venture Plans Speculative Industrial, Office Expansion at Business Park in Zebulon
A joint venture between Mark Andrews of TME Investments and the Noël family is planning to expand the Triangle East Business Park in Zebulon.
CBL Disposes of Majority Ownership in Debt-Laden Mall Property in Raleigh
In a $181 million deal, CBL & Associates Properties and its 50-50 joint venture partner, The R.E. Jacobs Group, are selling the Triangle Town Center and the adjacent Triangle Town Place shopping center in north Raleigh to an institutional investor.
Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M
Taft Family Offices, a 30-year-old real estate development firm in Greenville, recently sold the 401 Oberlin apartment and retail building across from Cameron Village in Raleigh.
Concord Hospitality, Kane Realty Partner to Create North Carolina’s First AC Hotel
Local developers Concord Hospitality Enterprises and Kane Realty Corporation have partnered once again, this time with plans to build and operate the state’s first AC Hotel. Scheduled for completion in 2016, the new 133-key property will be located in Raleigh’s North Hills section, near the LEED Gold-certified CAPTRUST Tower.
North Carolina and Raleigh Reach $52M Agreement on Former Dix Hospital Campus
After months of negotiations, state and municipal leaders have reached a deal that paves the way for the creation of the city’s own Central Park.
Crescent Communities Completes Sales of Two Multi-Family Properties to Berkshire Group Affiliate
by Adriana Pop, Associate Editor Charlotte-based Crescent Communities recently sold the 303-unit Crescent Ninth Street apartment complex in Durham. According to the Triangle Business Journal, a Berkshire Group affiliate paid $77 million, or approximately $254,000 per unit, to acquire the property. In another recent transaction, the company purchased the 282-unit Crescent Cameron Village apartment community on […]
Lexerd Buys 354-Unit Foxfire Apartments in Durham; Berkshire Group Breaks Record with $76.8M Apt. Purchase from Crescent Communities
Private Equity Firm Lexerd Capital Management LLC has announced the purchase of Foxfire Apartments, a 354-unit apartment community in Durham, NC.