The Michelson Organization, in partnership with Dome Equities, sold the 206-unit Amberwood at Lochmere complex in Cary, NC, to The Conner Group for $18.1 million, or approximately $ 88,000 per unit.
The 177,366-square-foot apartment community includes one-, two- and three- bedroom units in a three-story building. It was built in 1991 and was 97% occupied at the time of sale.
John Heimburger, Blake Okland, Dean Smith and Sean Wood represented the selling venture.
Please see CoStar COMPS #2893171 for more information on this transaction