The Beach Company’s $44M Buy Expands Multifamily Footprint in Raleigh
Charleston, SC-based Beach Real Estate Funds, LLC, an affiliate of The Beach Company, has acquired North Oaks Landing, a 200-unit garden-style multifamily community in the North Hills submarket of Raleigh, NC, for $44 million.
Mike Kemether, Hunter Bowling, Paul Marley and Jacqui Aaron of Cushman and Wakefield facilitated the sale on behalf of the seller. Beach Real Estate Fund’s acquisition team of Darby Parker and Niko LeVigne facilitated the sale on behalf of the buyer. CBRE’s Nate Sittema and Kristen Reilley facilitated the financing.
“North Oaks Landing provides an excellent opportunity for The Beach Company to expand its growing multifamily portfolio in Raleigh,” said Darby Parker, BREF’s acquisitions manager. “The reputation of the market is well-established, which is why this is our third regional acquisition and is a footprint we plan to continue expanding.”
The 1980-constructed North Oaks Landing is near Raleigh’s major job centers, downtown and world-renowned Research Triangle Park.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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