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Carden Place Apts Trade for $21.5M

Investors Sell 240 Units in Mebane
December 18, 2013
Middle Street Partners LLC acquired the 240-unit Carden Place Apartments at 101 Carden Place Dr. in Mebane, NC from Brown Investment Properties and Weaver Investment Company for $21.5 million, or about $90,000 per unit.

The 337,470-square-foot multifamily community delivered in 2011 on 14.9 acres in the SE Alamance County submarket, adjacent to a new Tanger Outlet mall and minutes away from the Research Triangle Park.

Hal Kern, Richard Montana, and Phil Brosseau with CBRE’s Multi-Housing Group represented the buyer. The seller handled the deal in-house.

Please see CoStar COMPS #2913088 for more information on this transaction.

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