Eller Capital Acquires Colonial Arms Apartments in Chapel Hill for $3.6M

CHAPEL HILL, N.C. — Eller Capital Partners has acquired Colonial Arms Apartments located at 612 Hillsborough St. in Chapel Hill for $3.6 million. Eller Capital will rebrand the asset as 612 Hillsborough. The apartment community is within walking distance to the University of North Carolina at Chapel Hill campus and downtown Chapel Hill. 612 Hillsborough is Eller Capital’s fourth acquisition in the Chapel Hill area in the past 16 months, with the other three properties being The Apartments at Midtown 501, 86 North Apartments and Timber Hollow Apartments.