December 3, 2019
Beach Investment Fund has acquired Amberwood at Lochmere, a 206-unit multifamily property in Raleigh. The sales price was not disclosed.
Howard Jenkins and Kevin Kempf of CBRE|Raleigh represented the undisclosed seller in the transaction. Additionally, CBRE’s Nate Sittema and Kristen Reilley placed a Freddie Mac loan on behalf of Beach Investment Fund.
“Raleigh boasts many accolades, including a top city for jobs and tech and best places to live,” said Jenkins, senior vice president at CBRE|Raleigh. “Buoyed by continued growth in our region’s recession resistant ‘meds & eds’ and technology fields, a millennial growth rate nearly six times the national average, a 3% unemployment rate, and relative affordability, Raleigh’s multifamily market is expected to continue to thrive.”
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