BELMONT, NC-American Residential Investment Management has paid$9.4 million to acquire Abbey Court Apartments, a 176-unitapartment complex situated in Belmont. Philadelphia,Pennsylvania-based Madison Apartment Group was the seller of themultifamily property. Cushman & Wakefield's Brandon Whitesellnegotiated the sale. NorthMarq Capital facilitated a fixed rateFannie Mae loan with a 10-year term and a 30-year amortization.
According to American Residential, it will oversee therenovation and manage the routine activities of the complex. Forthe full story, go to Triangle Business Journal .
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