May
07

Cary Apartments Sold for $136,300/Unit

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cary prestonOhio-based The Connor Group bought the Cary Greens at Preston property, a 292-unit apartment community in Cary, for $39.8 million, according to Wake County records.

“The location is as good as it gets in the Raleigh area,” said Larry Connor, a managing partner in the Dayton-area firm. “It is a great opportunity that really fits our management style.”

The property includes 10 different floorplans with one-, two- and three-bedroom units, a business center, fitness center, dog park and pool. This is the Connor Group’s second major acquisition this year, after it bought a Dayton, Ohio-area community that it had owned and sold previously. The similar sized Dayton community sold for about a quarter of the price of the Cary apartments, which feature more amenities in a much higher-growth market.

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Categories : Raleigh

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