Written by Ashley Riddell | COSTAR
Tribridge, Real Estate Capital Partners Secure Cary Multifamily Community
A joint venture between Tribridge Residential, an Atlanta-based multifamily investor, and a fund managed by Real Estate Capital Partners acquired, the 319-unit Harrison Grande at 300 Sudbury Dr. in Cary, NC for $38.725 million, or about $121,000 per unit.
Constructed in 1995, the multifamily complex consists of 23 two-story residential properties totaling 400,127 square feet. Sold at 95% occupancy, the unit mix consists of 121 one-, 92 two- and 64 three-bedroom apartments.
Residents have access to community amenities such as a resort-style swimming pool, an indoor swimming pool, tennis courts, a dog park, a fitness center and a picnic area.
Led by John Bray and Faron Thompson, JLL’s Freddie Mac Program Plus financed the transaction. JLL’s transaction team was comprised of David Gutting, Derrick Bloom, and Andrea Howard.