VTT Management purchased the Carver Pond Apartments at 3801-4001 Meriwether Drive in Durham, NC, to First Market Properties for $12.3 million or $48,047 per square foot. The buyer secured a $12.1 million bridge loan for the 256-unit residential complex through UC Funding.
Built in 1996, Carver Pond is a 570,888-square-foot two-story property on 15.96 acres.
Beau McIntosh, Andrew Klenk and Brian Ford of Capstone Apartment Partners were the listing brokers.
See CoStar COMPS #2624522 for more information.