Babcock & Brown Residential

  • Brookfield Acquires Apartment Communities in the Triangle for $108M

    Brookfield Asset Management Inc. has purchased five multi-family properties in the Triangle region, as part of its $414 million deal to acquire a total of 19 apartment communities in North Carolina, South Carolina and Virginia. Babcock & Brown Residential, the seller of the 4,892-unit portfolio was advised by Robert W. Baird & Co. According to the Triangle Business Journal, the assets located in the Triangle accounted for a combined $108 million, or $76,900 per unit. The newspaper reports that the 462-unit Oak Hollow property in Cary sold for $32.6 million, while the 144-unit Bridges at Chapel Hill in Carrboro sold for $11.6 million. The region’s other three communities that were included in the sale are located in Durham: the 346-unit Bridges at Wind River (pictured), which sold for $32.6 million, the 264-unit Woods Edge, which sold for $18.7 million, and the 192-unit Bridges at South Point, which sold for $12.76 million.

    Raleigh Durham 21 February 2013 22:31

You May Also Like

  • JV Sells 175 KSF Portland Asset

    A real estate fund managed by Credit Suisse Asset Management acquired the former Oregonian Building in Portland, Ore. The previous owners recently renovated and restored the facility as part of a multi-million dollar program.

    17 August 2017 14:19
  • Carlyle Group Snags $85M for San Jose Campus

    The company has secured the five-year, floating-rate loan to refinance 4300 and 4400 North First St., two Class A office buildings situated in the Innovation Triangle submarket of Silicon Valley.

    05 September 2017 08:58
  • CBRE Adds Tenant to WPB Office Park

    Brown & Brown outgrew its 9,800-square-foot office space at 1401 Forum Way and plans to relocate to Centrepark West in April 2018.

    11 October 2017 11:17
  • Bedrock to Redevelop Former Detroit Police HQ

    The company teamed up with a subsidiary of Syncora Guarantee Inc. for the project and aims to preserve the building’s historic character.

    13 February 2018 18:28
  • JV to Create Upscale Hotel Brand in Japan

    An exclusive joint venture of Hotel Okura Co. and Trinity Investments LLC has revealed its plan to bring a new luxury brand to Japan’s hospitality market.

    27 November 2017 18:11