Updated Dec 4, 2024
Equus Capital Partners Acquires Three Multifamily Properties In Raleigh, NC For $66.65M
561 Bridle Ridge Lane, 100 Hunt Club Lane & 3111 Long Meadow Court
$66,650,000
Units
180
Asset Type
MultiFamily
Closing
Feb 1, 2024
About this deal
AI
Equus Capital Partners has reacquired three North Carolina apartment complexes—Madison Hunters Glen (180 units), Laurel Springs (122 units), and Laurel Oaks (164 units)—for a total of $66.65 million. The properties are located at 561 Bridle Ridge Lane, 100 Hunt Club Lane, and 3111 Long Meadow Court in Raleigh, NC. The multifamily assets were sold in a transaction that closed on February 1, 2024.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $66,650,000
- Buyer: Daniel M. DiLella, Jr - Equus Capital Partners
- Mortgage Brokers: Kippy Donovan & Steve Comly - Newmark
Equus Capital Partners, represented by Daniel M. DiLella, Jr, acquired the three multifamily properties located in Raleigh, NC. The deal was facilitated by mortgage brokers Kippy Donovan and Steve Comly from Newmark. The transaction, which closed on the 1st of February 2024, marked the successful reacquisition of the Madison Hunters Glen, Laurel Springs, and Laurel Oaks complexes, totaling 466 units, for a combined price of $66.65 million.
On the Map
$66,650,000
MultiFamily
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Raleigh MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93