David Arthur

  • 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

  • 2017 Top 50 Property Managers

    Major diversified real estate firms led our 2017 Top 50 Property Management Firms ranking, as Colliers International, Cushman & Wakefield, CBRE Group and JLL took the top spots.

    07 August 2017 11:31
  • McLane Global Renews, Expands Houston Logistics Lease

    The tenant will occupy an entire building within Interstate Commerce Center, a master-planned office and logistics park with direct frontage along Interstate 45.

    16 February 2018 09:50
  • Central Valley Shopping Center Fetches $6M

    Colony Plaza, anchored by a Save Mart grocery store, is 92 percent leased to tenants such as H&R Block, Supercuts and Country Skillets.

    19 January 2018 21:17
  • Sustainable Services: Financing for the Long Haul

    Investors looking to provide supportive services at their communities should pursue financing incentives that can offset costs, argue Rainbow Housing's Flynann Janisse and Pillar Financial's Peter Nichol.

    21 February 2018 16:18
  • AECOM Tapped to Build $1B Mixed-Use Asset in LA

    Related Cos. selected the global engineering firm to take on the role of general contractor for The Grand, a transit-oriented development, which will include retail, a movie theater and a 314-key hotel.

    24 January 2018 13:41