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Metro Raleigh MF Property Trades for $31M
Alternative investment management firm Inland Private Capital Corp. has arranged the sale of Amberwood at Lochmere, a 206-unit apartment community in Cary, N.C. The sales price was $31.3 million.
Located at 100 Eclipse Dr., the property was constructed in 1991 and consists of a mix of one-, two- and three-bedroom apartments with contemporary finishes. The community also features a sun deck, resort-style swimming pool, tennis court, dog park, 24-hour fitness center, hiking trails and a clubhouse. The property was 96% leased at the time of sale.
IPC, through its subsidiary which serves as asset manager, facilitated the sale of the property on behalf of a tenant-in-common (TIC) investment program. The buyer was not disclosed.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
