HFF Announces $73.92M Sale of and Acquisition Financing for Weston Corners in Cary, North Carolina

05 November 2018

CHARLOTTE, NC – November 5, 2018 – HFF announces the $73.92 million sale of and acquisition financing for Weston Corners, a newly built, 308-unit, mid-rise multi-housing community in Cary, North Carolina.

The HFF team marketed the property on behalf of the seller, Woodfield Development, and procured the buyer, Lantower Residential.  Additionally, HFF’s debt placement team worked exclusively on the new owner’s behalf to arrange an acquisition loan through New York Life Real Estate Investors.

Completed this year, Weston Corners features a mix of studio, one-, two- and three-bedroom units with high-end amenities, including 10-foot ceilings, stainless steel appliances, quartz countertops, designer kitchen cabinetry and lighting, walk-in custom closets, full-sized washers and dryers, hardwood-style flooring and balconies.  Common area amenities include a pool with sundeck and outdoor kitchen, sky terrace, fitness center with yoga room, massage room, dog spa, clubroom with kitchen and game room, conference room and Wi-Fi lounge, outdoor courtyards and direct access to the Indian Creek Greenway and Trailhead.  Situated just south of Crabtree Lake at 6000 Elevate Circle, the property is central to Research Triangle Park, Raleigh-Durham International Airport, North Carolina State University via nearby Interstate 40 as well as downtown Raleigh, Durham and Chapel Hill.

The HFF investment advisory team representing Woodfield Development included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.

HFF’s debt placement team representing Lantower Residential consisted of senior directors Jamie Leachman and Roger Edwards.