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IRVINE, CA-GlobeSt.com has learned exclusively that locally based investment, acquisition, development and management company Passco Cos. LLC has purchased Encore at the Park, a 280-unit multifamily community in Durham, NC, for $28 million. The seller was a joint venture between Centennial Holding Co. of Atlanta and the Carlyle Group of Washington, DC.

Sean Wood of ARA Investment Services represented both parties in the transaction. Formerly known as Century Creek, Encore at the Park is one mile from North Carolina’s Research Triangle Park. It will be managed by Riverstone Residential Group.

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