BURLINGTON, NC—Capstone Companies is pleased to announce the successful closing of Catherine Place Townhomes, a newly built, 20-unit, Build-to-Rent (BTR) townhome community located at 3704 South Mebane Street in Burlington, North Carolina. The asset sold for $4,550,000 and marks a significant addition to the Build-to-Rent (BTR) product type that is growing within the submarket.
The transaction was led by Managing Director of Multifamily Investment Sales, Eric Liebich, and Firm Partner, Ron Corrao, with brokerage team members Josh Greenwald, Scott Fuller, Matt Weinstein, Dane Lozier, and Mike Mosher assisting in the sale process. Capstone sourced both the seller, Daly Hotel Management, and the buyer, DeRosa Group.
“We are thrilled to have facilitated the sale of Catherine Place Townhomes,” said Liebich. “This well-maintained, newly constructed property offers residents a modern and convenient living option in a desirable location. We are confident that DeRosa Group will be excellent stewards of the property going forward,” Liebich added.
“The property’s proximity to employers, retailers, and commercial services makes Catherine Place an ideal asset to bring into our growing portfolio in the Carolinas,” said Herve Francois, Acquisitions Manager of DeRosa Group. “We’re excited to see current and future residents benefit from the property’s thoughtful design, ideal location, and its immediate access to main thoroughfares,” added Francois.
The Catherine Place Townhomes was built in 2023 and boasts 20 beautifully designed townhomes consisting of all two-bedroom and two and half bathroom units, each averaging ~1,300 square feet. The property features spacious layouts, modern finishes, and the community sits just minutes from I-85 and downtown Burlington, providing residents with easy access to shopping, dining, and entertainment options. The property was 100% occupied at the time of closing.
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