Oberlin Place

Sector:

Sample Success Stories

Property Description

After securing financing from Wachovia Bank, Cherokee Partners and Anthony Property Group moved their businesses into 702 Oberlin, a tired and vacant office in Cameron Village, Raleigh, NC. Buying the property enabled low cost leasing. The State of North Carolina and the IAT Group then leased the remaining space. In 2012 the property was reconfigured and the adjoining 616 Oberlin Road parcel was rezoned for a 207-unit multifamily development. The value of the land and office building at 702 Oberlin is now approximately $15mm. 616 Oberlin has since been successfully developed into luxury apartments, with a land sales price of $6mm.