Fairfield Residential Acquires Park Central Apartments Multifamily In Raleigh From KBS For $132.5M

The transaction involved a multifamily asset located at 200 Park At North Hills Street in Raleigh, NC. The property was sold for $132,500,000 and features a total of 36,000 square feet along with 286 units, resulting in a price per unit of $463,287 and a price per square foot of $3,681.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $132,500,000
• Units: 286
• Square Footage: 36,000
• Price Per Unit: $463,287
• Price Per Square Foot: $3,681
• Buyer: Fairfield Residential
• Seller: KBS
• Date of Sale: 10/02/2025
• Market: Raleigh, NC

KBS sold its luxury Raleigh high-rise Park Central Apartments to Fairfield Residential, marking a profitable exit at 2.4 times its original investment. The property was co-developed with Kane Realty and includes retail space, anchoring Raleigh's North Hills live-work hub.