PROPERTY DESCRIPTION

Arboretum Apartments is a 205-unit apartment property located in Cary, North Carolina. Developed in 2009 by Crosland, LLC, the property is part of a 100,000 square foot mixed-use center located across the street from the International Headquarters of SAS Institute – the world’s largest private software firm and Cary’s largest employer. The property features one-, two-, and three-bedroom apartments and townhomes with an average size of 1,073 square feet. The in-unit finishes and amenity package at the property are among the highest specification in the market and include up to 11-foot ceilings, granite countertops in the kitchen and bathrooms, tile backsplashes, Energy Star-rated stainless steel appliances, hardwood flooring, ceiling fans, and walk-in closets. There are a total of 429 parking spaces at the property (1.33 per bedroom).

INVESTMENT PERIOD

December 2011 - May 2012