RALEIGH, NC-Two area apartment communities were purchased by local investors and another was acquired by a national real estate investment firm based in California for a total purchase price of approximately $67 million.
Chaucer Creek Capital LLC of Raleigh shelled out $27 million for the 228-unit Olde Raleigh community. The seller was California-based Fairfield Residential, according to the Triangle Business Journal. In another recent multifamily deal in the area, Eller Capital Partners acquired the Timberlyne apartment community at the intersection of Weaver Dairy Road and MLK Jr. Boulevard for $8.7 million.
The 246-unit Wakefield Glen Apartments in north Raleigh has been sold for $31 million to Irvine, CA-based Passco Companies LLC. This past July, Passco acquired the Encore at the Park community in Durham. See story in the Triangle Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.