Newmark Knight Frank Negotiates Sale of 250-Unit Multifamily Community in Raleigh

by Alex Tostado

RALEIGH, N.C. — Newmark Knight Frank (NKF) has negotiated the sale of Hawthorne at the Trace, a 250-unit multifamily community in Raleigh. The property was built in 1995 and offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, playground, dog park, valet trash pickup, picnic area, grilling area, fitness center and a clubhouse. The asset is located at 8224 Green Lantern St., 10 miles northwest of downtown Raleigh. Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon of NKF represented the seller, Hawthorne Residential Partners, in the transaction. NKF’s Debt & Structured Finance team arranged financing on behalf of the buyer, KnightVest, which bought the community for an undisclosed price. The terms of the loan were also not disclosed.

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