Capstone Apartment Partners Brokers $8.4 Million Trade

DURHAM, N.C. — Federal Housing Solutions has purchased the 192-unit Hardee Terrace apartments for $8.4 million. Built in 1967 and extensively renovated in 2014, the property was approximately 92% occupied at the time of sale. The seller, VTT Management, had invested more than $2 million in renovations and deferred maintenance. The complex’s amenity package includes a playground, fitness center, and laundry facilities. Andrew Klenk and John Ackiss of Capstone Apartment Partners represented the seller in the transaction.

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