The Preiss Company Secures $48M Acquisition Loan For Multifamily Property In Raleigh

The multifamily property located at 2805 Par Dr in Raleigh, NC has been involved in a recent loan transaction. The property sits on approximately 28 acres of land and consists of 265 units. The loan amount for this acquisition is $48,000,000, obtained through a five-year floating-rate loan.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $48,000,000
• Address: 2805 Par Dr, Raleigh, NC
• Market: Raleigh, NC
• Acres: 28
• Units: 265

The lender for this loan transaction is Mesa West Capital, with Russell Frahm and Pamir Niaz representing the lender. The Preiss Company is the landlord of the property. The brokers involved in this deal are Josh Davis and Chris Caison from Newmark.