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Investors Management Group Sells Two Raleigh Apartment Complexes for $29.8 Million

Abacus Capital Group Buys 117-Unit Millbrook Apartment Homes and 101-Unit Lynn Lake Apartment Homes
The 117-unit <bsp-property-link href="http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=1&amp;redirUrl=redir%2FDefault.aspx%3FProductMode%3DProperty%26eid%3D7768194" target="_blank" property-id="7768194" label="Millbrook Apartment Homes" class="rte2-style-costar-rte-PropertyLinkRichTextElement" link-data="{&quot;cms.site.owner&quot;:{&quot;_ref&quot;:&quot;00000164-904d-d794-ad6f-dcff6d680000&quot;,&quot;_type&quot;:&quot;ae3387cc-b875-31b7-b82d-63fd8d758c20&quot;},&quot;cms.content.publishDate&quot;:1615239699531,&quot;cms.content.publishUser&quot;:{&quot;_ref&quot;:&quot;00000166-b63d-d0e4-ade7-fefd98da0000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;cms.content.updateDate&quot;:1615239699531,&quot;cms.content.updateUser&quot;:{&quot;_ref&quot;:&quot;00000166-b63d-d0e4-ade7-fefd98da0000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;linkText&quot;:&quot;Millbrook Apartment Homes&quot;,&quot;deepLinkId&quot;:&quot;7768194&quot;,&quot;link&quot;:{&quot;target&quot;:&quot;NEW&quot;,&quot;attributes&quot;:[{&quot;name&quot;:&quot;property-id&quot;,&quot;value&quot;:&quot;7768194&quot;,&quot;_id&quot;:&quot;0000018b-671e-d5c7-a9db-7fbeaad50001&quot;,&quot;_type&quot;:&quot;150982d2-afb0-32bc-8e8f-34b38a365261&quot;},{&quot;name&quot;:&quot;label&quot;,&quot;value&quot;:&quot;Millbrook Apartment Homes&quot;,&quot;_id&quot;:&quot;0000018b-671e-d5c7-a9db-7fbeaad50002&quot;,&quot;_type&quot;:&quot;150982d2-afb0-32bc-8e8f-34b38a365261&quot;},{&quot;name&quot;:&quot;class&quot;,&quot;value&quot;:&quot;rte2-style-costar-rte-PropertyLinkRichTextElement&quot;,&quot;_id&quot;:&quot;0000018b-671e-d5c7-a9db-7fbeaad50003&quot;,&quot;_type&quot;:&quot;150982d2-afb0-32bc-8e8f-34b38a365261&quot;}],&quot;url&quot;:&quot;http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=1&amp;redirUrl=redir%2FDefault.aspx%3FProductMode%3DProperty%26eid%3D7768194&quot;,&quot;_id&quot;:&quot;0000018b-671e-d5c7-a9db-7fbeaad50000&quot;,&quot;_type&quot;:&quot;ff658216-e70f-39d0-b660-bdfe57a5599a&quot;},&quot;disableRelation&quot;:false,&quot;_id&quot;:&quot;00000178-13c9-d699-a77f-73cfd66f0000&quot;,&quot;_type&quot;:&quot;a02711fd-84cb-3e05-af9a-9cc94da9728a&quot;}" data-deep-link-type="property" data-deep-link-id="7768194" data-disable-relation="false">Millbrook Apartment Homes</bsp-property-link> is located at 2121 Paces Forest Court. (Investors Management Group)
The 117-unit Millbrook Apartment Homes is located at 2121 Paces Forest Court. (Investors Management Group)
By Alicia Biggs
CoStar Research
March 8, 2021 | 9:50 P.M.

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Abacus Capital Group has purchased a two-property multifamily portfolio in Raleigh, North Carolina, from Investors Management Group for $29.75 million, or about $136,000 per unit.

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