Departure Flats

RALEIGH, NC | 170-Unit Multifamily Development

New York city skyline panorama at night. Aerial panoramic view of Manhattan illuminated skyscrapers after the sunset

Key Investment Highlights

  • Shovel-ready Opportunity Zone development – Entitlement and zoning are already in place and construction-ready.​
  • #3 Fastest growing large metro area in the US – Anchored by the technology and life sciences industries, Raleigh population is growing by over 2% annually due to plentiful jobs, and the influx of new residents is steadily adding to multifamily demand​
  • Strong rent growth market – The Raleigh multifamily market is one of just a few markets nationally that has continued to experience positive market rent growth during this period of record supply
  • Highly sought-after location – Project site is located within close proximity to the North Hills neighborhood, Duke Raleigh Hospital, Downtown Raleigh​

Development Information

  • Property Type


  • Deal Type

    Opportunistic / Op Zone

  • Units


Located in
Raleigh, NC

5329 Departure Drive,
Raleigh, NC 27616
United States

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Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.

Risks and Limitations: the risks associated with making investment decisions based on targeted metrics is that they are targets. Commercial real estate investing is risky, and that means that the investment will not always play out according to expectations. Targeted returns involved multiple degrees of uncertainty and risk related but not limited to rental rates, lease expiration dates, occupancy rates, length of the investment period, exit cap rates, and interest rates. – Criteria and Assumptions- how a sponsor approaches the underwriting process (conservative, moderate, aggressive) may change the assumptions of the model which include targeted: cash yield, equity multiple, IRR, investment period and distribution rates

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