Trade Street Residential, a company which owns and manages multifamily buildings in the eastern part of the U. S., purchased a 288-unit apartment community in Wake Forest, NC from Woodfield Investments for $37.2 million, or about $129,000 per unit.
The newly developed Estates at Wake Forest delivered in September 2013 at 1524 Woodfield Creek Drive. The community consists of one-, two- and three-bedroom apartments and features a fitness center, club house, pool with entertainment area and detached garages.
Please see CoStar COMPS #2939991 for more information on this transaction.
Trade Street also purchased a multifamily building in Memphis, TN on the same date.
See COMPS# 2939994 for more information on the transaction. Miller Creek at Germantown Trades for $43.8M