Carter Exchange Offloads 249-Unit Burlington Apartment Community
Grimley Capital paid $48 million for the Retreat at the Park, a 249-unit, garden-style community in Burlington, NC. Carter Exchange was the seller.
The Triad Business Journal reports that Carter Exchange purchased the Retreat at the Park in 2020 for $37.78 million from Diamondback Investment Group.
The complex was built in 2015 and offers one-bedroom, two-bedroom and three-bedroom units with sizes ranging from 689 square feet to more than 1,300 square feet.
The community’s amenities include a fitness center with cardio and weightlifting equipment, a clubhouse with a lounge and cafe, a game room, a saltwater swimming pool, an outdoor entertainment area with a fireplace and a resident business center.
Caleb Troop, Thomas Colaiezzi, Matt Robertson and Drew Kwiatkowski of Berkadia Charlotte represented Carter in the sale and Brian Huff of Berkadia Denver secured the financing for the acquisition on behalf of Grimley.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout