9/13/2007

Raleigh multi-family complex brings $19.7 million

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Fairfield Residential has acquired the Crabtree Valley multi-family complex in Raleigh, N.C., for $19.7 million from Sherman Residential.

Dean Smith and Blake Oakland of Apartment Realty Advisors represented both sides in the transaction.

The Crabtree complex is a 268-unit property located at 4601 Baymar Dr. It contains 268,134 square feet and a mix of one- and two-bedroom apartments.

Fairfield Residential is a real estate company offering acquisition, construction, development and management services.

Sherman Residential is a Chicago-based real estate firm specializing in multi-family properties.

Apartment Realty Advisors is multi-family investment advisory brokerage firm.

Address: 4601 Baymar Dr., Raleigh, N.C.

Size: 268,134 square feet

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Filed Under: Multi-Family

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