Carolinas

The properties that total 254,796 square feet were sold by Crescent Lakeside LLC and acquired by New York-based investment firm HLM Realty LLC.

It has acquired an apartment building in Durham, NC, for $42.7 million.

Louis Haddad, president and CEO of Armada Hoffler Properties, states that the company intends to exercise its purchase option upon completion and may use the asset as a replacement property in a tax-free exchange.

The 392-unit residential community is located near major employment centers and transportation corridors.

The retail town center will serve as the shopping and dining core for the long-anticipated Park Center, an ambitious mixed-use development project in Research Triangle Park that will include more than 1,000 residential units, a hotel, a conference center and more than 1 million square feet of office space.

The former Chatham Mill will transform into community and office spaces.