Douthit and Co. Sells Foxcroft Apts. for $22.3M
Eller Capital Partners Acquires Multifamily Asset
October 21, 2013
Eller Capital Partners, a private REIT, purchased the 248-unit multifamily complex at 545 Ashley Court in Chapel Hill, NC, from Douthit and Co. for $22.3 million, or about $90,000 per Unit.
The 334,104-square-foot building was constructed in 1977 and was 93 percent occupied at the time of the sale.
Brett Mason of NorthMarq’s Raleigh regional office arranged $25.8 million in acquisition financing on behalf of the buyer. Marc Robinson and Jordan McCarley of Multi Housing Advisors represented the seller.
Please see CoStar COMPS #2853850 for more information on this transaction.