Virginia firm enters market with $157M buy of South End developments

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CHARLOTTE, N.C. — A Virginia-based real estate investment firm is moving into the South End market with the purchase of two mixed-use complexes from original developer Ram Realty Advisors.AvalonBay Communities Inc. acquired Hub South End for $104.35 million and Three30Five for $52.65 million, according to Mecklenburg County real estate records. The deal was finalized on Sept. 23.[ ALSO READ: Mixed-use development proposed in York County ]“Our commitment to the South End began 15 years ago,” said [charlotte/search/results?q=Casey%20Cummings]Casey Cummings, Ram Realty Advisors CEO. “We are grateful that AvalonBay selected our South End residential portfolio as its entrée into North Carolina and are confident that they will be great stewards of these assets.”Read more here.(WATCH BELOW: Significant affordable-housing development breaks ground)©2021 Cox Media Group Source link
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