Horizon Realty buys Raleigh student apartments for $21M
A Seattle company has made its second investment into Triangle apartments with the purchase of a student housing complex in Raleigh.
Horizon Realty Advisors paid $21 million earlier this month for the Village Green apartment complex along Lake Wheeler Road, according to Wake County land records. The complex, which offers individual leases, mostly houses students at North Carolina State University and Meredith College.
There are 156 units in the complex. The property also includes a 4,000-square-foot clubhouse.
Reed Cos., a Florida developer of student housing, was the seller for the complex, built in 2003 faxless payday loan. According to its Web site, that company owns no other apartment properties in the Triangle.
The purchase of Village Green gives Horizon three student-housing apartment complexes in Raleigh. The company also owns sister complexes Centennial Ridge and Centennial Village, with the former located off Tryon Road and the latter at the corner of Gorman Street and Avent Ferry Road.