American Residential Investment Acquires Ridgewood & Park Place Apts.
Evergreen Construction Company sold two multifamily communities in greater Raleigh, NC to American Residential Investments Management for $7.3 million.
Park Place Apartments is a 100-unit multifamily complex located at 107 Luxury Lane in Knightdale, NC. Ridgewood Apartments is a 50-unit multifamily building complex located at 1018 Wait Avenue in Wake Forest, NC. Both were about 97% occupied at the time of sale.
There were no representatives in this transaction.
Please see CoStar COMP #3001325 for more information on this transaction