crefeed.com | Fairfield Residential sells 638 units in North Carolina

3/3/2008

Fairfield Residential sells 638 units in North Carolina

Cornerstone Apartments

Fairfield Residential has disposed of two of its North Carolina multi-family properties with the $61 million sale of the Cornerstone Apartments in Cary and the North Park Apartments in Raleigh to Atlanta, Ga.-based Julian LeCraw & Company.

The deal was brokered by Blake Oakland and Dean Smith of Apartment Realty Advisors.

North Park is located in Raleigh at 4803 North New Hope Rd., and was built in 1995. It contains 336 units comprised of one and two-bedroom apartments.

The Cornerstone Apartments in Cary are located at 100 Terrastone Place and contain 302 units. The community was built in 1996 and has a unit mix of one, two and three-bedroom units.

Oakland and Smith recently brokered the $32 million sale of Camden Timber Creek and Camden Eastchase in North Carolina.

Address: North Park at 4803 North New Hope Rd., Raleigh, N.C.
-Cornerstone at 100 Terrastone Place, Cary, N.C.

Size: 638 total units

Built: 1995-1996

Filed Under: Multi-Family

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