Geoff Loftin, Bo McHugh, and Jim Anthony of APG Advisors recently represented Core Spaces, a Chicago-based real estate company focused on acquiring, developing and managing residential properties, in the acquisition of Stanhope Student Apartments, an 822-bed student housing and retail mixed use project at 3001 Hillsborough St, Raleigh, North Carolina.
Located just a quarter-mile from North Carolina State University (NC State), Stanhope Student Apartments opened in the fall of 2015 and includes studio, one-, two-, three- and four-bedroom options. Unit amenities include a furniture package with smart TVs, hardwood plank flooring and washers and dryers, as well as all utilities included in the monthly bill.
Community amenities include a pool, movie theater room, cyber café, art studio, study lounges, two-story fitness center, fire pit, grilling area, onsite security, game room, a tanning bed and gated parking garage.
For the upcoming 2021- 2022 school year, the residential portion of the mixed-use property is already 100 percent leased. The property also features 30,000 square feet of ground level retail space leased to tenants including CVS/pharmacy, Smoothie King, Penn Station Subs and more.
The seller was an affiliate of Kane Realty Corporation, led by John Kane, and Val Valentine of Valentine Properties in Raleigh. The project was finished and opened in the fall of 2015.
APG Advisors prides itself on being a trusted 34-year-old real estate advisory company based in Raleigh. If you are looking to purchase commercial real estate in Raleigh-Durham or elsewhere in the Carolinas, APG Advisors is the expert team of local real estate brokers who are ready to guide you, specializing in everything from multifamily, industrial, retail and office properties, to land for development. No matter the type of property you are looking for, we can guide you through the research and purchasing processes. For further information, get in touch with our team or call David Adams, President of Brokerage, at 919-582-3149.