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CushWake Arranges $30M Sale of Durham MF Property
Cushman & Wakefield has arranged the $29.5 million sale of The Forest, a 272-unit multifamily property in Durham. Built in 1981, the property is located nearby Duke University Health System and Research Triangle Park.
Watson Bryant, Jordan McCarley and Paul Marley of Cushman & Wakefield represented the seller, The Sterling Group, in the transaction. The buyer was DASMEN Residential. The acquisition marks DASMEN’s eighth property in the Raleigh-Durham market.
“Our plan is to enhance the living experience for the current and future residents, as we look to implement an extensive renovation to the interior units and common areas,” said Michael Katz, CEO of DASMEN Residential. “Quartz countertops for the interiors as well as a DASMEN Resort- like experience for the clubhouse, pool, business center and fitness center are all part of the detailed business plan for The Forest.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
