Q2 2012 Raleigh-Durham, North Carolina Apartment Property Sales Analysis

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Q2 2012 Raleigh-Durham, North Carolina Apartment Property Sales Analysis


Apartment investment sales remained active in the second quarter, with eight properties selling for $213.2 million at a mean price per unit of $105,000 and a mean cap rate of 6.4%. The 12 month rolling cap rate is 5.6%. There were 10 sales in the first quarter totaling $270.6 million. The largest sale of the second quarter was the Park and Market at North Hills, with 409 units, which sold for $82 million ($200,489 per unit). The deal took place in April. The seller was Kane Realty Corporation; the buyer was Crow Holdings.