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Chevy Chase firm closes $93.5M apartment deal

Chevy Chase firm closes $93.5M apartment deal

Chevy Chase-based real estate investment firm and partner Kane Realty Corp. announced the $93.5 million sale of the Allister Hill luxury apartments in Raleigh, North Carolina.

Federal Capital and Kane developed the 434-unit project in 2013, and it was 95 percent occupied at the time of the sale.

“Allister North Hills was our first ground-up development in the Triangle and in partnership with Kane Realty. We could not be happier with the development, execution, lease-up and exit, and we would like to congratulate the Kane team on their seamless implementation of our business plan,” Federal Capital Partners Vice President Bryan Kane said in a news release.