Cortland And Pamera North America Acquire 417-Unit Peace Raleigh Apartments From Kane Realty Corp For $152M

The asset involved in this transaction is the multifamily property known as Peace Raleigh Apartments, located at 417 West Peace Street in Raleigh, NC. The property consists of 417 units, with a sale price of $152,000,000, translating to a price per unit of $364,508.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $152,000,000
• Address: 417 West Peace Street
• Market: Raleigh, NC
• Units: 417
• PPU: $364,508
• Buyer: Cortland & Pamera North America
• Seller: Kane Realty Corp

Cortland and Pamera North America have acquired the property and plan to rebrand it as Cortland Glenwood South, marking a significant addition to their portfolio in the Raleigh market.