Grubb Properties has sold its Sterling Apartments portfolio. The disposition was a collection of eight workforce apartment communities in the southeastern United States.
The properties were owned by several of Grubb’s investment funds and were purchased between 2011 and 2014. The aggregate purchase price was $105.6 million, with approximately $40 million in equity, and the aggregate sale price was $255.6 million.
Property
Location
Sterling Magnolia
Charlotte, N.C.
Sterling Oaks
Chamblee, Ga.
Sterling Westchester
Greenville, S.C.
Sterling Pelham
Greenville, S.C.
Sterling Bluff
Savannah, Ga.
