ARA NEGOTIATES $43.8M SALE OF DURHAM APARTMENT COMPLEX

DURHAM, N.C. — ARA has arranged the sale of the 328-unit Artisan at Brightleaf apartment community in Durham. Boston-based AEW Capital Management purchased the property on behalf of one of its institutional clients for $43.8 million. Greystar, a Charleston, S.C.-based apartment owner, developer and manager, developed the property in 2012 through a partnership with Prudential. Sean Wood, Blake Okland, Dean Smith and John Heimburger of ARA represented Greystar in the transaction.