Capstone Real Estate Investments, LLC (“CREI”) has closed on the sale of University Apartments in Durham, NC to an affiliate of Magma Equities. Management services will be assumed by Elmington based in Nashville, TN. The transaction closed on July 14th, 2021 and this sale marks the second successful real estate transaction by CREI this year.
University Apartments, located within walking distance to Duke University, was originally acquired by Capstone in 2009. The 461-bedroom community offers nineteen unique one and two bedroom floor plans, ranging in size from 400 to 1200 square feet.
CREI is actively searching for acquisition opportunities. Interested in selling an asset near a major college or university? Contact John Baumhauer, VP of Acquisitions at CREI – [email protected] or 205.949.3849.