1031 Exchange Apartments Oregon Washington

Source: Triangle Business Journal January 3, 2018

by: Ben Graham, Staff Writer

A California real estate investment firm has paid $14.3 million for a 144-unit complex in north Raleigh and plans to pump another $1 million into renovating the buildings.

Investors Management Group closed on the deal for Sommerset Place Apartments in late December. “We’re going to add some light interior upgrades and then we’re going to do some pretty extensive exterior work with focus on the pool and clubhouse,” said Kevin Crook, IMG director of acquisitions.

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