Property Type: Multifamily
Location: Durham, NC
Date Acquired: October 2015
Emerald Forest Apartments is a 320-Unit, garden style apartment community, built in 1985 and located in Durham, NC. The property is very well located, right near the main Durham side entrance to Raleigh-Durham’s famed Research Triangle Park (RTP). In February 2014 the Research Triangle Foundation announced the first phase of its redevelopment with an acquisition of 100 acres at the corner of I-40 and Davis Drive in the Research Triangle Park (“RTP”). The site redevelopment, nicknamed The Park Center, is a planned mixed-use development expected to bring $2 billion in private investment and create up to 100,000 new jobs. The Park Center is the newest development in the RTP and is conveniently located just two (2) miles east of Emerald Forest via Hwy-54.