Two NC Multifamily Deals Yield $93M

Two separate apartment buildings in the Brier Creek area of Raleigh, NC, recently sold for a combined value of $93 million. Crossings at Alexander Place netted $44 million for seller Contravest, based in Florida. Bridges at Wind River Apartments brought San Diego seller Fairfield Residential $49 million.

Brier Creek straddles the Wake and Durham County lines in North Carolina’s Research Triangle area.

Kettler of Washington, D.C. bought the 346-unit Bridges at Wind River Apartments, at 200 Wind River Pkwy. The new owner plans upgrades to the structure, as well as improving resident amenities. Sentinel Real Estate Corp., based in New York, ended up with the 300-unit Crossings at Alexander Place at 7521 Windmill Harbor Way.

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