The Dinerstein Cos. has purchased Manor Six Forks, a 298-unit multifamily community in Raleigh, N.C., for $59 million. The property was acquired from Waterton, according to Yardi Matrix data.
Mesa West Capital provided a $59 million acquisition loan. Newmark Vice Chairman Matt Greer and Vice President Andrew Wilson arranged the five-year, non-recourse financing.
Waterton bought the property from Sherman Residential for $58 million in 2019, according to the Yardi Matrix data. Manor Dix Forks underwent renovations that same year. Rebranded as Infinity Six Forks, the community was 95 percent leased at the time of the sale.
Completed in 2010, the building offers one-, two- and three-bedroom floorplans ranging from 800 to 1,357 square feet. Common-area amenities include a swimming pool, fitness center, clubhouse, business center and two spas, as well as a playground, basketball court, media room, rooftop lounge, laundry facilities, controlled access and approximately 350 parking spaces. Units feature washers and dryers, walk-in closets and balconies or patios.
Manor Six Forks is located at 900 E. Six Forks Road near downtown Raleigh. The community is near the intersection of Interstate 440 and Route 401, which provide easy access across the Raleigh-Durham metropolitan area. Duke Raleigh Hospital and an abundance of dining options are within walking distance of the property.
In neighboring South Carolina, Mesa West Capital recently provided a $72 million refinancing backing the renovation of The Cooper, a 344-unit community in Mount Pleasant.
