{"id":1004079999,"date":"2013-07-10T14:06:44","date_gmt":"2013-07-10T22:06:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=146326"},"modified":"2020-05-13T21:23:10","modified_gmt":"2020-05-14T05:23:10","slug":"investor-buys-multifamily-property-from-prei-for-165436-per-unit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investor-buys-multifamily-property-from-prei-for-165436-per-unit\/","title":{"rendered":"Investor Buys Multifamily Property from PREI for $165,436 Per Unit"},"content":{"rendered":"<p><!--[if gte mso 9]&gt;--><\/p>\n<p><!--[if gte mso 9]&gt;--><\/p>\n<p class=\"MsoNormal\"><em><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/Artisan-at-Brightleaf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-146328\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/Artisan-at-Brightleaf.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Alexan Garrett Farms, a 298-unit rental community located off of U.S. 15-501 in south Durham, has changed owners. According to the <em><a href=\"https:\/\/www.bizjournals.com\/triangle\/news\/2013\/07\/03\/two-durham-rental-properties-sell-for.html\" rel=\"nofollow\">Triangle Business Journal<\/a><\/em>, real estate investment firm Bentall Kennedy of Boston acquired the property from Prudential Real Estate Investors of Chicago. The community sold for $49.3 million, or $165,436 per unit.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Open since 2009, the apartment complex is conveniently located near the city\u2019s major employers and universities. The property offers one-, two- and three-bedroom units along with a wide range of amenities, including a resort-style swimming pool with over-sized sun deck, summer kitchen with gas grills, an outdoor lounge with fireside seating, green spaces, children\u2019s park, clubhouse, cardio studio, full-effect movie theatre, laptop stations and WiFi access. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other multifamily transaction news, the same source reports that a group of investors represented by AEW Capital Management of Los Angeles has acquired the 328-unit Artisan at Brightleaf apartment complex in east Durham. The property sold for $43.8 million, or $133,536 per unit.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Developed by Greystar of Charleston, S.C., the one- and two-bedroom garden-style community opened last fall. Amenities include a pool and deck with Wi-Fi, 24-hour emergency maintenance, sports club, interactive gaming lounge, outdoor courtyards, a private tanning salon, dog park, private detached garages, as well as concierge services. <\/span><\/p>\n<p class=\"MsoNormal\"><em><span lang=\"EN-US\">Photo credits: artisanatbrightleaf.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Alexan Garrett Farms, a 298-unit rental community located off of U.S. 15-501 in south Durham has recently changed owners. According to the Triangle Business Journal, real estate investment firm Bentall Kennedy of Boston has acquired the property from Prudential Real Estate Investors of Chicago. The community sold for $49.3 million, or $165,436 per unit.<\/p>\n","protected":false},"author":1269,"featured_media":1004507260,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[1815],"class_list":["post-1004079999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Investor Buys Multifamily Property from PREI for $165,436 Per Unit - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/investor-buys-multifamily-property-from-prei-for-165436-per-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investor Buys Multifamily Property from PREI for $165,436 Per Unit\" \/>\n<meta property=\"og:description\" content=\"The Alexan Garrett Farms, a 298-unit rental community located off of U.S. 15-501 in south Durham has recently changed owners. 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