{"id":1004112304,"date":"2015-01-29T09:07:52","date_gmt":"2015-01-29T17:07:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=321836"},"modified":"2020-04-29T01:26:24","modified_gmt":"2020-04-29T09:26:24","slug":"taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/","title":{"rendered":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M"},"content":{"rendered":"

\"\"<\/a>by Adriana Pop, Associate Editor <\/em><\/p>\n

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.<\/p>\n

According to the Triangle Business Journal<\/a><\/em>, a joint venture partnership led by TriBridge Residential of Atlanta paid $65 million or $267,000 per unit to acquire the 244-unit property at the northwest corner of Oberlin Road and Clark Avenue. The five-story complex, which opened in 2014, also features about 9,000 square feet of ground-floor retail space anchored by the new Tupelo Honey Cafe restaurant. The property was about 62 percent leased at the time of the sale.<\/p>\n

Another remarkable transaction of a multi-family property in the same area occurred in December, when the Crescent Cameron Village apartment community across the street sold for $76.8 million, or a record-breaking $272,000 per unit<\/a><\/em>.<\/p>\n

“Raleigh has become very much a ‘core’ market for investors now,” Tom Taft Sr., the company\u2019s owner, told the newspaper. “Five years ago, you couldn’t say that. It’s pretty exciting for the Triangle.”<\/p>\n

The CBRE investment market team from Atlanta, along with Jeff Glenn from CBRE’s Raleigh office, represented Taft and his partners in the transaction.<\/p>\n

The pace of the market determined other apartment developers to invest in the area. Wood Partners for instance is planning a 215-unit luxury apartment community on a site of nearly 3 acres at 616 Oberlin Road.<\/p>\n

Taft Family Offices is now planning to invest a portion of the proceeds from the sale into a new multi-family complex in Charleston, S.C.<\/p>\n

Photo credits: Grubb Ventures<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":260,"featured_media":0,"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":[],"class_list":["post-1004112304","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"\nTaft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M - 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\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M\" \/>\n<meta property=\"og:description\" content=\"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.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-29T17:07:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-29T09:26:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M\",\"datePublished\":\"2015-01-29T17:07:52+00:00\",\"dateModified\":\"2020-04-29T09:26:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/\"},\"wordCount\":269,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/401_Oberlin_Raleigh.jpg\",\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/\",\"name\":\"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/401_Oberlin_Raleigh.jpg\",\"datePublished\":\"2015-01-29T17:07:52+00:00\",\"dateModified\":\"2020-04-29T09:26:24+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/401_Oberlin_Raleigh.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/401_Oberlin_Raleigh.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\\\/\\\/www.linkedin.com\\\/in\\\/ioana-adriana-pop-811772108\\\/.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-pop\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/","og_locale":"en_US","og_type":"article","og_title":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M","og_description":"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.","og_url":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-01-29T17:07:52+00:00","article_modified_time":"2020-04-29T09:26:24+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg","type":"","width":"","height":""}],"author":"Adriana Pop","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/"},"author":{"name":"Adriana Pop","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"headline":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M","datePublished":"2015-01-29T17:07:52+00:00","dateModified":"2020-04-29T09:26:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/"},"wordCount":269,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg","articleSection":["News","Raleigh-Durham"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/","url":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/","name":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg","datePublished":"2015-01-29T17:07:52+00:00","dateModified":"2020-04-29T09:26:24+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/401_Oberlin_Raleigh.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/taft-sells-apartment-and-retail-building-in-raleigh-to-tribridge-jv-for-65m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Taft Sells Apartment and Retail Building in Raleigh to TriBridge JV for $65M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad","name":"Adriana Pop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","caption":"Adriana Pop"},"description":"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004112304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004112304"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004112304\/revisions"}],"predecessor-version":[{"id":1004427595,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004112304\/revisions\/1004427595"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004112304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004112304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004112304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}