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Casto has awash District Station Apartments, a 191-unit affluence association abreast Raleigh, N.C., to Zaremba Group for $44.6 million, according to Yardi Matrix. Zaremba financed the accretion with a $24.8 actor accommodation from PNC Bank. The acreage delivered beforehand this year in April, afterward about two years of architecture work.

Located at 2312 Bristol Creek Drive in Morrisville, N.C., the five-story architecture is some 10 afar west of city Raleigh. The association is abreast a ample array of shops and restaurants forth Chapel Hill Road, and the Prestonwood Country Club is a abbreviate ambit west.

District Station has one-, two- and three-bedroom units, with floorplans amid 800 and 1,617 aboveboard feet. The property’s advantage mix includes a appointment center, dog park, bold room, alfresco basin and bold room. A multi-level parking anatomy at the southwestern bend of the asset provides added than 300 spaces for association for an added account fee.

Morrisville continues to draw multifamily investors, boasting hire advance averaging 5.8 percent year-over-year through June, outpacing the busline boilerplate and added than bifold the civic rate. Zaremba’s accretion is positioned a brace of afar south of addition mid-rise association which afresh awash to RK Properties for $46.5 million.

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