Millenia Capital Acquires One At Fayetteville Multifamily For $59.52 Million With Citi Funding

The property involved in the transaction is a multifamily asset located at 1025 Hirschfeld Drive, Fayetteville, NC. It consists of 264 units and was sold for $59,520,000, translating to a price per unit of $225,455. The apartment complex is reported to be 95.5% occupied and is situated near Fort Bragg, an area that has experienced a 38% population growth over the past five years.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $59,520,000
• Buyer: Millenia Capital
• Seller: One Real Estate Investment
• Lender: Citi Real Estate Funding
• Units: 264
• Price Per Unit: $225,455

Millenia Capital, the U.S. affiliate of Honduran Grupo Terra, has successfully acquired the property through financing via a $42.2 million interest-only mortgage from Citi Real Estate Funding. The involvement of these entities emphasizes the strategic investment decisions made within the North Carolina market.