Capstone Facilitates $6.25 Million Sale of Private Entry Apartment Asset in the Raleigh MSA

RALEIGH, NC—Capstone Apartment Partners has closed the $6.25 million sale of West Oak Apartments. The 34-unit asset is conveniently located roughly 20 minutes north of Raleigh in the burgeoning Wake Forest suburb, offering residents a quieter, more affordable cost of living while still enjoying all that Raleigh has to offer.

Capstone’s Carolina’s team of Ron Corrao, Travis Cundiff, Eric Liebich, Thomas Colaiezzi, Jourdan Sullivan, and Matt Weinstein sold the property on behalf of Charlotte-based Ginkgo Residential, who completed impressive luxury upgrades on one of the units prior to listing. The buyer, San Francisco-based G Street Ventures, plans to continue similar upgrades on the remaining 33 units.

Built in 1986, West Oak’s unit mix is entirely comprised of desirable 2 BR/2 BA, private entry floorplans with exterior decks and stackable washer/dryer. The community’s upgraded unit boasts wood-style flooring, white shaker-cabinetry with brushed nickel hardware, stainless steel appliances, marble tile backsplash, quartz countertops, new bathroom vanities and fixtures, ceiling fans, plantation blinds, and a brushed nickel lighting package. West Oak Apartments was 100% occupied at the time of closing.

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