Updated Oct 14, 2026
Bailey Jones Of Portsmouth Real Estate Partners And Casey Barber Of Marcus Partners Acquire 326-Unit Multifamily Asset In Raleigh For Undisclosed Amount
500 Saint Albans Drive
Units
326
Asset Type
MultiFamily
Closing
Oct 13, 2026
About this deal
AI
A 326-unit apartment community has been acquired, located at 500 Saint Albans Drive in Raleigh, North Carolina. The asset falls under the multifamily category, and it was constructed in 2020. The investment reflects the ongoing recovery within Raleigh’s multifamily market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 326
- Address: 500 Saint Albans Drive
- Market: Raleigh, NC
Bailey Jones from Portsmouth Real Estate Partners and Casey Barber from Marcus Partners are the key individuals behind this transaction. The joint venture aims to implement operational improvements and targeted capital upgrades to enhance the value of the property.
On the Map
MultiFamily
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Raleigh 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