CASA recently purchased a six acre parcel of land near Wake Med Hospital and several other CASA communities. The site will be the future home to King’s Ridge, an afforable housing complex named in loving memory of our long time CEO, Debra K King. More details to come! Scroll down to read the press release from our partners, Avison Young.
For Immediate Release
Monday, October 28, 2019 Contact:
Six-acre Raleigh land parcel near WakeMed sold
Avison Young represents seller and buyer in purchase
Raleigh, NC — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has brokered a $1 million land sale in Raleigh, NC. Located at 200 Michael J. Smith Lane, this land parcel is in East Raleigh, inside the I-440 Beltline and southeast of WakeMed.
The property was purchased by CASA, a 501(c)3 nonprofit organization that serves the Triangle and surrounding North Carolina areas by providing and managing affordable housing for underserved, disabled, and homeless veterans and individuals in the community.
Blake Thomas, vice president of investment sales for the capital markets group based in Avison Young’s Raleigh-Durham office, exclusively represented the seller, Green Level Capital Associates, LLC. Craig Cadwallader, and Kyle Gonzales, both with Avison Young’s multifamily advisory group, exclusively representing the buyer in the transaction.
“CASA is thrilled with the location of this land, its proximity to public transportation, and the opportunity this gives us to develop urgently needed stable, affordable rental housing for more Raleigh residents,” stated Mary Jean Seyda, CEO, CASA.
CASA is a non-profit housing provider whose mission is to provide access to stable, affordable housing for people who are homeless or at risk by developing and managing rental communities. Since 1992, CASA has focused on building and managing affordable housing for extremely low-income families and individuals, in particular veterans and people with disabilities. CASA manages nearly 500 affordable apartments in Wake, Durham, and Orange counties and has plans to expand over the next few years. https://www.casanc.org/
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
For further information/comment/photos:
• Mary Jean Seyda, CEO