Raleigh-Durham

by Adriana Pop, Associate Editor
Red Hat plans to move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot,  hi-rise downtown. Red Hat will be subleasing the space from Progress Energy.
The lease contract amounts to about $86.68 million, not including concessions, over the next 23 years., the Triangle Business Journal reports.
The new building, Red Hat Tower, is situated at […]

by Adriana Pop, Associate Editor
Construction of three new luxury student complexes is underway near North Carolina State University in Raleigh, N.C.
Slated to open simultaneously this summer, the three developments will offer a total of 1,770 off-campus bedrooms, the NewsObserver reports. In spite of the growing concern over the cost of higher education, experienced student housing […]

by Adriana Pop, Associate Editor
Georgia-based ECI Group Inc. plans to develop the Columns at Broadstone, a 300-unit multifamily apartment complex in Apex. The NewsObserver reports that the company paid $2.2 million for a 19-acre site just off U.S. 1, near its intersection with E. Williams Street. ECI Group acquired the land from Kite Realty, owner […]

by Adriana Pop, Associate Editor
Palatine Capital Partners Management LLC has sold the 345-unit Beech Lake multifamily community located in Durham for $19,700,000. Westdale Properties and Lubert-Adler acquired the apartment complex. The transaction closed on Dec. 24, 2011. Apartment Realty Advisors […]

by Adriana Pop, Associate Editor
The Town Council in Chapel Hill unanimously approved the construction of Shortbread Lofts, an 85-unit apartment complex on West Rosemary Street.
The development takes advantage of the strength of the Chapel Hill apartment market, which is experiencing […]

By Adriana Pop, Associate Editor
Gov. Beverly Perdue intends to reconvert the site of the former Dorothea Dix psychiatric hospital into a public park. The state Department of Administration will then need to find a solution to move the 1,300 state […]