Six Forks Station sold at 96% occupancy

Ownership transfers to TIC investors

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Grubb & Ellis Realty Investors LLC this week announced it acquired Six Forks Station in Raleigh, N.C., on behalf of tenant-in-common investors, at 96 percent occupancy. Located at 8601 Olde Station Drive, Six Forks Station is a 321-unit garden-style multifamily community situated on more than 32 acres. The property consists of 39 apartment buildings and a separate structure housing a clubhouse and leasing center. The unit mix consists of 88 one-, 161 two- and 72 three-bedroom apartments. The net rentable area of the property is nearly 360,000 square feet, with an average unit size of 1,120 square feet. Built in three phases between 1985 and 1997, Six Forks Station offers 656 parking spaces, which results in a 2.04-space-per-unit parking ratio. Community amenities include two swimming pools, playgrounds, multipurpose sports courts, a fitness center and an onsite laundry facility. *** What's your opinion? Leave your comments below or send a letter to the edit...