A Florida real estate investment company sold a Raleigh multifamily community for over nearly $50 million earlier this week.
Miami-based Starwood Property Trust (NYSE: STWD) sold the Andover at Crabtree to Magnolia Capital, a real estate investment and property management firm out of Chicago.
Starwood sold the property for $48.5 million after purchasing the site in 2015 for $18.6 million.
The property is made of two tracts — 18 and 21 acres — and is at 6200 Riese Drive in Northwest Raleigh.…
