Daily limit: 0/10
Sterling Legacy Acquires Multifamily Portfolio In Wake County From Magma Equities And Mile Rock Capital For $40.5M
SOLD
$40,500,000
North Carolina
See Similar DealsMultiFamily
Sold 06/03/2025
SOLD
Sterling Legacy Acquires Multifamily Portfolio In Wake County From Magma Equities And Mile Rock Capital For $40.5M
Guerin Road , 202 Luxury Lane & 1000 Wait Avenue
See Similar DealsMultiFamily
Sold 06/03/2025
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involves a multifamily asset located at 600 Guerin Road, 202 Luxury Lane & 1000 Wait Avenue in the Holly Springs, Knightdale & Wake Forest, NC market. The property was sold for a total of $40,500,000, encompassing 95 units with a price per unit of $426,316.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,500,000
- Units: 95
- Price Per Unit: $426,316
- Buyer: Sterling Legacy
- Seller: Magma Equities & Mile Rock Capital
Sterling Legacy acquired the Wake County apartment portfolio consisting of Maple Ridge, Park Place, and Ridgewood from Magma Equities and Mile Rock Capital, marking a significant transaction in the local real estate market.
Players
SELLER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
Is there something missing? Send suggestions