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821 Hanbury Way

Updated Aug 27, 2026

SOLDMultiFamily

Milo Apartments, LLC Acquires 252-Unit Multifamily Community From Bob Faith Of Greystar

821 Hanbury Way

Units

252

Asset Type

MultiFamily

Closing

Aug 26, 2026

About this deal

AI

The property asset involved in this transaction is a 252-unit multifamily community located at 821 Hanbury Way in Raleigh, NC. This newly built development spans 8.13 acres and was completed in 2024. The units available in the property range from one to three bedrooms, with an average size of 889 square feet. The property's strategic location along the I-40 corridor is a significant feature that enhances its attractiveness in the market.

Summary of transaction details:

This transaction represents the transfer of ownership from Greystar to Milo Apartments, LLC, with the brokerage firm JLL Capital Markets representing the seller throughout the deal. Key individuals involved include Bob Faith representing Greystar, and various brokers from JLL who facilitated the sale.

Players

John Gavigan

JLL

Broker

$120.2M

vol

4 deals

Broker
Bob Faith

Bob Faith

Greystar

Seller

$2.9B

vol

34 deals

Seller

Way MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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