Bain Capital Real Estate and Magnolia Capital have acquired The Waterford Apartments, a garden-style multifamily apartment community in the Raleigh-Durham, N.C., metro area. Financial terms of the private purchase were not disclosed.
Centrally positioned in the growing Raleigh-Durham submarket of Morrisville, N.C., The Waterford is a 300-unit community totaling 257,064 square feet. The property is five minutes from Research Triangle Park, which is home to more than 275 companies and more than 55,000 employees, making it the area’s largest employment concentration. The community also is near the downtowns of Durham and Raleigh, providing residents with easy access to the surrounding area’s shopping, dining, and entertainment. The community was built in 2000 and is now 93 percent occupied.
The units feature spacious layouts in a diverse range of floor plans designed with comfort and convenience in mind. The community also has desirable amenities, including barbeque a
