Capstone Brokers $4.1M Sale of Wake Forest Apartment Community

WAKE FOREST, NC — Capstone Companies is pleased to announce the off-market, $4.1M sale of Creekside Apartments, a 38-unit apartment community located in Wake Forest, North Carolina along S Franklin St. The 2001-constructed property contains two- and three-bedroom units and was 95% occupied at time of sale. The property is poised for a value-add initiative, furthering the appeal of the community to current and future residents.

The Capstone brokerage team was led by Managing Director of Multifamily Investment Sales, Eric Liebich, and Firm Partner, Ron Corrao, who facilitated the sale on behalf of the seller, a privately held owner of multifamily housing. They also sourced the buyer, Charlotte-based Sterling Legacy.

“The acquisition of the Creekside Apartments brings further scale to Sterling Legacy’s operations in the immediate submarket as they continue to grow their portfolio,” said Liebich. “We were pleased to play a part in facilitating the transaction, and we’re excited to see the community continue to come to life as Sterling Legacy works to enhance the overall living experience for residents within the community,” he added.

“We’re pleased to bring another high-quality asset into our growing Carolinas portfolio,” said Sterling Legacy Chief Executive Officer, Joseph Anthony. “The Sterling Legacy team is looking forward to implementing additional efficiencies that will further benefit residents within the Creekside Apartment community.”

Creekside Apartments is strategically located in downtown Wake Forest near a plethora of amenities, retail, restaurants, and employment hubs. Direct access to US-1 and State Road 98 provides residents with convenient access to neighboring Raleigh and Durham within a short commute.

 

Media Contact:
Jaclyn Chapman
Director of Strategic Marketing Communications
jaclyn@capstone-companies.com

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