Avison Young Arranges $37.3M Sale of Apartment Community in Raleigh

by Camren Skelton

RALEIGH, N.C. — Avison Young has arranged the $37.3 million sale of Woodfield Glen, a 233-unit apartment community located at 3801 Glen Verde Trail in Raleigh. Peter Sherman, Craig Cadwallader, Grant Linderman and Sam Chow of Avison Young arranged the transaction on behalf of the buyer, California based-Inco Monterra LLC. ARA Newmark represented the seller, Richmond, Va.-based Grayco Inc. Located at the corner of Glenwood Avenue and Lynn Road, the property is located seven miles from downtown Raleigh and four miles from Raleigh-Durham International Airport. Woodfield Glen was constructed in 2008 and features a mix of one-, two- and three-bedroom units. Community amenities include a saltwater pool, fitness center, clubhouse, garages, storage rentals and a game room.

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