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Boston Capital Sells Courtney Reserve at Cary Park for $30 Million

Duck Pond Purchases 240-Unit Multifamily Community in Suburban Raleigh
April 3, 2014
Boston Capital Real Estate Partners sold the 240-unit Courtney Reserve at Cary Park multifamily complex in Cary, NC to Duck Pond Realty Management for $30 million, or approximately $125,000 per unit.

The 258,175-square-foot apartment community consists of one-, two- and three-bedroom units in 17 buildings. The complex was built in 2007 in the Cary Park submarket and was 96 percent occupied at the time of sale.

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

Please see CoStar COMPS #2978528 for more information on this transaction.

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