216-UNIT MULTIFAMILY PROPERTY TRADES FOR $20.5 MILLION IN NORTH CAROLINA

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FAYETTEVILLE, N.C. — CB Richard Ellis has completed the sale of Stone Ridge Apartments in Fayetteville. Located at 3001 Stone Carriage Circle, the 216-unit multifamily property sold for $20.5 million or $94,907 per unit. Richard Montana, Hal Kern, Phil Brosseau and Jeff Glen of CBRE's Carolinas Multi-Housing Group represented the undisclosed seller. The buyer was not released.

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