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North Raleigh apartment complex sells for $35 million

Triangle apartment sales may top $500 million this year as investors' appetite for the properties is showing no signs of waning.

A Virginia real estate development company has bought the Apartments of Stonehenge in North Raleigh for $35 million, according to Wake County property records.

Robinson Development Group of Norfolk bought the 452-unit complex from Stonehenge Associates LLC.

The price works out to about $77,000 per unit for the complex.

The apartments, built in 1984, are located just off Creedmoor Road in between Lynn and Strickland roads.

Triangle apartment communities have been about the only commercial real estate changing hands this year.

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