The Davis Cos. and Gemini Partners sell 320-unit, garden-style property

A joint venture between Boston-based The Davis Companies and Gemini Partners has sold the Lodge at Croasdaile Farm, a 320-unit, garden-style and townhome apartment community in the North Durham submarket of Durham, S.C.

The sales price was $65.9 million.

The new owner is Virginia-based RST Development, which assumed management operations under its affiliate, Hercules Living.

The Lodge at Croasdaile Farm is situated on nearly 40 acres at 3130 Hillandale Road within the Croasdaile Farm master-planned community, which features a median home price of nearly $525,000. Completed in 2019, the three-phase property consists of a mix of one-, two- and three-bedroom garden-style flats and two- and three-bedroom townhome units totaling 340,160 rentable square feet. Community amenities include a resort-style saltwater pool, outdoor grilling areas, resident lounge with community kitchen and coffee bar, fitness center with yoga space, outdoor pavilion with games, private garde