Six Forks Station is a 321-unit garden-style apartment community in Raleigh, North Carolina. Situated on more than 32 acres, the property consists of 39 buildings and a separate building housing the clubhouse and leasing center. Built in three phases between 1985 and 1997, Six Forks Station offers tenants a healthy parking supply with 656 spaces, which results in a 2.04 space per unit parking ratio.
Available for §1031 Exchange and LLC
Loan Terms: The loan is assumed to have an overall effective fixed interest rate of 6.01%, a three-year initial term with a one-year extension option and will be interest only for the entire term. The property will be purchased with a cash down payment estimated to be $8,840,000 and a nonrecourse loan in the amount of approximately $20,700,000 (approximately 73% of the purchase price to the seller), to be made by the lender.