David Luski Of DRA Advisors Acquires Crestline Cary Multifamily In Cary For $60.85M

The property involved in this transaction is a multifamily asset located at 10300 Kingsclere Drive in Cary, NC. The sale price for the property was $60,850,000. It consists of 247 units, setting the price per unit at $246,356. The property was rebranded as Crestline Cary and has a current occupancy of 92%. Furthermore, it carries a Fannie Mae loan totaling $40.7 million with an interest rate of 3.06%, and it offers various unit types including one- to three-bedroom configurations with modern amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $60,850,000
• Buyer: David Luski - DRA Advisors
• Seller: Samantha Davenport - Hawthorne Residential Partners
• Units: 247
• Price Per Unit: $246,356
• Location: 10300 Kingsclere Drive, Cary, NC
• Market: Cary, NC
• Loan Amount: $40.7 million
• Loan Rate: 3.06%
• Occupancy Rate: 92%

DRA Advisors was represented by David Luski in this deal, while the seller, Hawthorne Residential Partners, was represented by Samantha Davenport. The previous ownership acquired the property in 2013 for $27.1 million, indicating a substantial appreciation in value over the ensuing years leading to this transaction.