Updated Sep 22, 2026
Zach Spencer Of Beacon Partners Acquires 9.87 Acres In Raleigh From Andy Mcginty For $15M
819 East Six Forks Road
$15,000,000
Units
400
Asset Type
Land
Closing
Sep 20, 2026
About this deal
AI
A 9.87-acre site located at 819 East Six Forks Road in Raleigh, NC has been sold for $15 million. The land is intended for a development project that includes 350 apartments and 36–40 townhomes.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $15,000,000
- Buyer: Zach Spencer - Beacon Partners
- Seller: Andy Mcginty - Castle Development Partners
- Location: 819 East Six Forks Road, Raleigh, NC
- Market: Raleigh, NC
- Acres: 9.87
Zach Spencer, representing Beacon Partners, is set to begin site work on the new development by year-end, anticipating that construction will take just over two years. Andy Mcginty represented Castle Development Partners in this off-market transaction.
On the Map
$15,000,000
Land
View full map
Players
Fuquay-Varina Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Deal FAQ
Browse Fuquay-Varina land sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93