DURHAM, NC-A Chicago-based real estate investor has purchased a 602-bed student apartment community in Durham. Blue Vista Capital Management has bought The Verge student housing complex at 5110 Old Chapel Hill Road in mid-April for $19.3 million.
Richmond, Virginia-based GrayCo Inc. was the seller. The 242-unit apartment community is situated near the junction of U.S. 15/501 and Interstate 40. The tax value of the property is $26.5 million. The community has been renamed Level 51 Ten student apartments. For the full story, go to Triangle Business Journal .
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