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NY-based Invesment Group Puts Raleigh Apts. Under Contract

Investor Enters Into $26 Million Purchase Agreement for 600-Unit The Lakes Apts.
By CoStar Research
November 19, 2008 | 10:05 P.M.

Consolidated Capital Growth Fund, a California-based limited partnership, said it has an agreement to sell The Lakes Apartments, a 600-unit apartment complex at 6615 The Lakes Dr. in Raleigh, to The Embassy Group LLC, a New York limited liability company, for a total sales price of $26 million, or approximately $43,333 per unit.

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