GRAHAM, NC—Capstone Apartment Partners has brokered the $7.25 million sale of Crescent Oaks: an 80-unit garden-style apartment community located in Graham, NC. The property is within walking distance from retail and dining and just a one-minute drive away from I-85 and I-40 interchanges.
Capstone sold the asset on behalf of 10 Federal Companies and procured the buyer, Silver Point Group. The buyer was attracted to Crescent Oaks due to its exceptionally well-maintained condition. The property is poised to achieve rent growth through improvements to apartment interiors and other upgrades.
The Capstone Apartment Partners transaction team was led by Brian Ford, Ron Corrao, Alex McDermott, and Bryse Toothaker.
“Crescent Oaks offers residents the premier rental option in Graham, NC in a clean, safe, and serene environment. We intend to build upon the previous owner’s investment to continue to offer extraordinary value to tenants,” said Yakov Stein of Silver Point Group.
Built in 1992, Crescent Oaks features one- and two-bedroom apartment homes and was approximately 96% occupied at the time of closing. The community’s amenities include a swimming pool, pet stations, and grilling areas. Each unit features walk-in closets, full-size washer/dryer connections, and a fully equipped kitchen with wood cabinetry and a double basin-stainless steel sink. In addition to these amenities, second floor units boast vaulted ceilings.