Texas firm snaps up value-add apartment complex near Raleigh

McDowell Properties acquires 194-unit Ellery of Cary

The Ellery of Cary was built in 1988 in Cary, North Carolina. (CoStar)

By Brian Irwin with

CoStar Research

June 10, 2026 | 9:54 P.M.

A Texas firm has acquired an apartment complex near Raleigh, North Carolina, with plans to revamp the nearly 40-year-old property.

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