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Blue Heron Fund Sells Apt. Building in Chapel Hill

Eller Capital Partners Purchases 198-Unit Timber Hollow Apt. for $18.2 Million
June 26, 2014
Blue Heron Fund sold the 198-unit Timber Hollow Apartments in Chapel Hill, NC to Eller Capital Partners for $18.25 million, or approximately $92,000 per unit.

The 146,400-square-foot apartment community consists of one- and two-bedroom units in nine buildings. It was built in 1987 in the Outlying Orange County Multifamily submarket and was about 95 percent occupied at the time of sale.

Dean Smith, Blake Oakland, Sean Wood and John Heimburger of Apartment Realty Advisors represented the seller.

Please see CoStar COMPS #3030797 for more information on this transaction.

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