TIC investors expand in South

Apartment homes purchased near Duke University

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Tenant-in-common investors have purchased a 288-unit multifamily community in Durham, N.C., for an undisclosed price. The deal closed March 29. Steven D. Bell & Co. sold the property, Springfield Apartments, which comprises approximately 208,000 square feet on nearly 32 acres and offers a parking ratio of 1.5 spaces per unit. Located just 2 miles south of Duke University, the property was 96 percent occupied at the time of sale. The property recently underwent a major renovation, including appliance, cabinetry, countertop, lighting and flooring upgrades throughout the 17 apartment buildings, as well as the 24-hour clubhouse and fitness center. ...