DRA Sells Raleigh Multifamily for $17M - CoStar Group
exerpted:
DRA Advisors sold the Midtown Crossing apartment complex at 317 Lynn Road in Raleigh, NC, to Eliason 1031 Properties Corp. for $17.75 million, or about $78,000 per unit.
The 120,000-square-foot complex is comprised of 12 buildings and 228 units. It includes a fitness center, swimming pool, business center and car-care facility.
Blake Oakland and Dean Smith of Apartment Realty Advisors represented the seller, while the buyer was self-represented.
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