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Apartment REP Blog
Nov 18

Written by: Apartment REP
11/18/2014 10:27 AM 

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.

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