DURHAM, NC-Miami-based Palatine Capital Partners has sold Beech Lake Apartments, a 345-unit apartment complex situated on University Drive in Durham, for $19.7 million. A joint venture between Lubert-Adler and Westdale Properties was the buyer.
Palatine Capital Partners purchased the apartment complex for $15.6 million in 2009 and sold it at the end of December 2011. The real estate firm made $4 million in nearly two years with the sale of Beech Lake Apartments. For the full story, go to Triangle Business Journal .
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