Capstone Apartment Partners announced a $62.5 million sale of Waterside and Watercourse Apartments on behalf of Eco Group, a collaboration of Lee-Moore Capital Company and Montgomery Development. Partnering with 10 Federal of Raleigh to bring the apartments to market, Eco Group received close to $141,000 per door with a sub 5% cap rate.

The newly constructed Waterside was completed in 2019 and 92.5% occupied at time of closing. Watercourse, constructed in 2016, was 98% occupied at time of closing. The two Class A garden-style apartment communities are located in Graham, NC, total 444 units and include robust amenity packages.

Audentes Therapeutics, an Astellas company based in San Francisco, California, announced opening a new facility in Lee County. The life-sciences company purchased a shell building in Central Carolina Enterprise Park, promising to create 209 jobs and invest $109.4M in Sanford over five years. Audentes is focused on developing and commercializing innovative therapies, including a gene therapy portfolio targeting serious rare neuromuscular diseases. Governor Roy Cooper said, “Lee County is a perfect fit for Audentes as they seek to become a global leader in genetic medicines.”