PASSCO Cos. Acquires Multifamily Complex in Raleigh
The Connor Group, an investment and development company based in Ohio, sold the Carrington at Brier Creek apartment complex at 11010 Eastlake Club Way in Raleigh, NC to PASSCO Cos. for $37.3 million, or about $138,000 per unit.
The 270-unit apartment complex was constructed in 2003 and totals 297,684 square feet. It consists of one-, two-, and three-bedroom units across 13 buildings. The property was 96 percent occupied at the time of sale.
Blake Okland, Dean Smith and John Heimburger of Apartment Realty Advisors represented the seller in the transaction.
Please see CoStar COMPS #2989774 for more information.