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SkyHouse in Raleigh SOLD for $103 Million

SkyHouse Raleigh NC

SkyHouse Raleigh NC

$103 Million is what the investment firm, World Wide Group, out of New York paid for SkyHouse a downtown Raleigh apartment building. The building features 23 stories and 323 units.  It was built in 2014 and at a record $319,000 per unit sales price Raleigh once again sets itself apart as one of the most desirable places to build and invest.

Built originally for $60M with a local developer, Gregg Sandreuter (Beacon Partners) involved in a joint venture with Novare Group (Atlanta, GA) and Batson-Cook Development Co, the project did not last long on the market in it’s search for an investor group to purchase it.  The original partners have been perfecting this model and the SkyHouse concept so much that they intend to open SkyHouse in up to 8 other cities.  The southeast could see 2 more – Charlotte, NC and Atlanta GA.  This is however their first sale.

Looking to invest in the Triangle commercial market?  Want the inside scoop on what’s happening?  Allow our full service team here at Kima Commercial to represent you and EARN your business.  We build relationships that matter.

MISSION: To provide Executive level client care through win-win solutions with a focus on making a difference in all communities in which we do business.  It is the intention of this firm to build our client relationships through effort and results.

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Keller Williams Preferred Realty, 7920 ACC Blvd, Suite 210, Raleigh, NC

919-336-1700

Peter@KimaCommercial.com

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