TIC investors buy North Carolina housing complex

Triple Net Properties represented tenant-in-common investors in the acquisition of Landing Apartments, a 200-unit complex in Durham, N.C.

The value of the transaction was not disclosed.

Landing Apartments comprises 192,200 square feet and features 12 two- and three-story buildings, a clubhouse, fitness center, laundry facility, three playgrounds, two tennis courts and a pool.

The property, built in 1986, provides 1- and 2-bedroom apartments ranging from 750 square feet to 1,100 square feet.

Colonial Realty Limited Partnership sold the property, which was approximately 93 percent occupied at the time of sale.

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