Inland Private Capital Corporation (IPC) has sold a 304-unit multifamily property in Knightdale, N.C. A sales price was not disclosed.
The property, known as View at Legacy Oaks, consists of 17.75 acres situated in a high-growth suburb of southeast Raleigh. With 14 residential buildings, a clubhouse and a maintenance shop building, the property features a variety of amenities including a dog park, resort-style pool, 24-hour fitness center with a kids playroom, a community kitchen, and more.
“Positioned in one of the fastest-growing communities in the Triangle metro region, the View at Legacy Oaks provided IPC the opportunity to capitalize on the property’s desirable location — even amid the pandemic,” said Keith Lampi, president and COO of IPC. “We purchased the property in November 2017, and through proactive asset management and value-add renovations, the property provided a substantial profit on sale, resulting in a 13.97 percent average annualized return