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Abacus Capital Group And BMC Investments Acquire Raleigh Multifamily Property For $73.1M

Property Image
SOLD
$73,100,000

North Carolina

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MultiFamily
Sold 08/27/2025
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Property Image
SOLD

Abacus Capital Group And BMC Investments Acquire Raleigh Multifamily Property For $73.1M

7880 Triangle Promenade Drive

See Similar Deals
MultiFamily
Sold 08/27/2025
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

7880 Triangle Promenade Drive is a multifamily property located in Raleigh, NC, consisting of 339 units. The property was sold for $73.1 million, translating to approximately $215,634 per unit. The last recorded transaction for the property was at $53 million in 2018.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $73,100,000
  • Buyer: Abacus Capital Group & BMC Investments
  • Seller: Electra America
  • Lender: Freddie Mac
  • Units: 339
  • PPU: $215,634

Newmark facilitated a $47.5 million loan from Freddie Mac for this transaction. This acquisition is recognized as a strategic investment by the buyers in the multifamily market.

Players

Abacus Capital Group
Abacus Capital Group
BUYER
BMC Investments
BMC Investments
BUYER
Electra America
Electra America
SELLER
Freddie Mac
Freddie Mac
LENDER

Details

SOLD
IMAGE: 08/27/2025 ADDRESS: 7880 Triangle Promenade Drive MARKET: Raleigh, NC ASSET TYPE: MultiFamily BUYER: Abacus Capital Group & BMC Investments SELLER: Electra America LENDER: Freddie Mac SALE PRICE: $73,100,000 UNITS: 339 ~ PPU: $215,634 NOTE: Abacus Capital Group and BMC Investments acquired Sterling Town Center, a 339-unit multifamily property in Raleigh, for $73.1 million from Electra America. Newmark arranged a $47.5 million Freddie Mac loan for the deal; the property last traded for $53 million in 2018.

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