Stonewood Apartments purchased in North Carolina

Asset's location a big selling point

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GMH Capital Partners on Wednesday announced it recently represented the owner in the sale of Stonewood Apartments, a 100-unit apartment complex located in Durham, N.C. The value of the transaction was $3.9 million. The complex, which consists of 11 two-story buildings and a clubhouse on 11.6 acres, was 93 percent occupied at the time of sale. Neither the buyer nor the seller's identity was disclosed. "Stonewood's location near Durham Regional Hospital, Northgate Mall, and Duke University made this a very attractive property for investors," said David Forrest, senior vice president of investment sales for GMH. Newtown Square, Pa.-based GHM Capital Partners provides integrated investment and asset services to real estate investors, institutions, and developers in most primary and secondary markets across the United States. ...