MORRISVILLE, NC - APARTMENT COMPLEX SOLD TO NEWPORT BEACH FIRM
Morrisville North Carolina - The demand for apartment complexes continues apace. A 360 unit apartment complex on 32.7 acres at 1100 Cameron Chase Drive was sold to CWS Capital Partners of Newport Beach, California for $30.55 million. That translates into $84,861 per unit. The price represents only a 3% increase above what Archstone Communities, the seller, paid for it in 2001. The apartments are currently 97% occupied.
John Fish (919) 696-3474 email: Marvmax@mindspring.com Website: www.JohnFish.com
