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Atlanta & Southeast  + Southeast  + Apartments  |  May 20, 2021
David Cohen
By: David Cohen

Newmark Arranges Sale of 600-Unit Raleigh MF Property

Newmark has arranged the sale of Willow Creek North Ridge, a 600-unit multifamily property in Raleigh built in 1972. The sales price was not disclosed.

Spanning more than 35 acres in midtown Raleigh, the property is nearby the 2-million-square-foot North Hills mixed-use development. Willow Creek North Ridge was purchased by Willow Creek Partners in 2019 and went through a $4 million-dollar renovation, including new roofs, siding, balconies and approximately 60-unit rehabs. Newly renovated apartment amenities include stainless steel energy-efficient appliances, updated wood cabinetry with choice of white, espresso, or European style cabinetry, full-size washer and dryer connections, updated lighting and ceiling fans. The property also includes an Olympic size swimming pool with sundeck.

Sean Wood, John Heimburger, Dean Smith, Alex Okulski, Jason Kon and John Munroe of Newmark represented the seller, Willow Creek Partners, in the transaction. The buyer was Bridge Investment Group.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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