Greensboro, NC-based Bell Partners and affiliates purchased the Woodlands at Wakefield in Raleigh, NC from Altman Cos. for $46.8 million, or about $130,000 per unit.
Constructed in 1999 at 12201 Oakwood View Dr., Woodlands at Wakefield is a 360-unit multifamily community comprised of one-, two-, and three-bedroom apartments averaging 1,206 square feet in size. The 4-Star asset is 95% occupied and situated in one of the wealthiest zip codes in the Triangle with a median household income of $114,047, according to the Triangle Business Journal.
Blake Okland, Dean Smith, John Heimburger and Sean Wood of ARA represented the seller.
Please see CoStar COMPS #2875742 for more information on this transaction.