Search
 

Passco Nabs 280-Unit Multifamily

IRVINE, CA-GlobeSt.com learns EXCLUSIVELY that the locally based firm has completed the $28-million acquisition of an apartment community in Durham, NC, and will be completing minor value-add upgrades to it.

By Carrie Rossenfeld | Updated on July 17, 2013

IRVINE, CA-GlobeSt.com has learned exclusively that locally based investment, acquisition, development and management company Passco Cos. LLC has purchased Encore at the Park, a 280-unit multifamily community in Durham, NC, for $28 million. The seller was a joint venture between Centennial Holding Co. of Atlanta and the Carlyle Group of Washington, DC.

Sean Wood of ARA Investment Services represented both parties in the transaction. Formerly known as Century Creek, Encore at the Park is one mile from North Carolina’s Research Triangle Park. It will be managed by Riverstone Residential Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.