Northmarq brokers $11.4 million sale of The Edge and The Landing at West End in Durham, NC
DURHAM, N.C. (Dec. 4, 2023) — Northmarq’s Carolinas Multifamily Investment Sales team of James Dorsett, Chris Schultz, Jeff Glenn, Allan Lynch, Caylor Mark, John Currin and Andrea Howard completed the sale of two adjacent, vintage apartments totaling 103 units in Durham, North Carolina. Northmarq represented the seller, Ashland Capital. Durham-based Edgewood Properties and Bergman Rentals separately acquired The Edge and The Landing, respectively, for a collective $11.4 million.
“There are very few pre-1970’s assets remaining in Durham that provide attainable housing in neighborhoods such as Lakewood. It is interesting to follow growth patterns over time,” said Glenn. “These, along with the adjacent shopping center, were once shining examples of suburban growth that once again find themselves at the heart of Durham’s infill resurgence.”
Located in the heart of the burgeoning Lakewood neighborhood, The Edge and The Landing at West End offer convenience and comfort. The properties are situated within a 5-minute drive of Duke University and Duke Medical Center and within walking distance of some of the best local dining, vintage shopping and eclectic entertainment. The Edge and The Landing at West End features spacious apartment homes with walk-in closets, garden tubs and significant value-add potential. Residents enjoy direct access to Highway 147 and Chapel Hill Road, with proximity to over 17,000 jobs in Downtown Durham (5-minute drive) and over 60,000 jobs in the Research Triangle Park (12-minute drive).
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
