Grimley Capital Acquires 249-Unit Retreat At The Park In Burlington For $48 Million

The Retreat at the Park is a 249-unit garden-style community located at 122 Retreat Ln in Burlington, NC. The asset was acquired for $48 million, resulting in a per-unit price of $192,771. The property offers various amenities, including a fitness center, clubhouse, and saltwater swimming pool.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $48,000,000
• Buyer: Grimley Capital
• Seller: Carter Exchange
• Brokers: Caleb Troop, Thomas Colaiezzi & Matt Robertson - Berkadia
• Mortgage Broker: Drew Kwiatkowski - Berkadia
• Units: 249
• Price Per Unit: $192,771

This transaction was facilitated by the representatives from Berkadia, who played a key role in bringing together Grimley Capital as the buyer and Carter Exchange as the seller. Their expertise contributed to the successful transfer of ownership for the property.