Ashley Park
Raleigh, North Carolina
Raleigh, North Carolina
- Luxury class-A 374 unit complex on 23 prime acres off U.S. 70, purchased at 65% of replacement cost.
- $39 million acquisition price from a major institutional owner.
- Created $28.4 million financing at 5.8% fixed for 10 years with Freddie Mac.
- Located in one of Raleigh, North Carolina’s most sought after submarkets, Brier Creek, a luxury, planned development designed around a signature 18 hole golf course and next to the 800,000 square foot Brier Creek Commons Shopping Center. Ashley Park is minutes from the world renowned Research Triangle Park, a hub for biotechnology, information technology, pharmaceuticals, financial services, electronics and telecommunications which employs over 52,000 full time and contract employees.
- Ashley Park offers an unmatched amenity package including: theatre/multi-media room, billiard lounge, indoor half court basketball/sport court, lighted tennis courts, concierge services, expansive fitness center, resort style swimming pool and spa.
- Managed by Switzenbaum Management Company
- Acquisition completed July 2009