1301 Hillsborough Street LLC Acquires Multifamily Complex In Raleigh For $52.7 Million

The property involved in this transaction is a multifamily asset located at 1301 Hillsborough Street in Raleigh, NC. The sale was finalized for a price of $52,700,000. This asset is a student housing complex named Live on Hillsborough, which offers a total of 376 beds and was operating at a 93% occupancy rate at the time of sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $52,700,000
• Buyer: 1301 Hillsborough Street LLC
• Seller: TPG Angelo Gordon & Horizon Realty Advisors
• Broker Representatives: Teddy Leatherman, Scott Clifton, Kevin Kazlow & Alex Nordlinger - JLL

This transaction involved the sale of the property from TPG Angelo Gordon and Horizon Realty Advisors, who had acquired the asset in 2021 for $56.5 million. The deal was executed with the involvement of JLL as the brokerage firm representing the parties. The property’s strategic location near North Carolina State University highlights its importance in the student housing market.