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Continental invests $61M in Raleigh market

Baltimore-based Continental Realty Corp. has purchased the 223-unit Edison Lofts apartment building in Raleigh, North Carolina, for $61 million.

The building at 131 E. Davie St. was completed by The NRP Group in 2016. The building offers one- and two-bedroom apartment floor plans that range in size from 550 to 1,870 square feet. Edison Lofts are near Raleigh’s central business district as well as City Market and Moore Square Park. Amenities include a swimming pool, dog park and residents’ lounge with billiards room.

“We are extremely familiar with the momentum and level of vitality occurring within Raleigh, which is considered one of the fastest growing metropolitan cities in the country. Our team considers The Edison Lofts a best-in-class asset offering a level of luxury living space and high-end amenities that would be difficult to replicate in the immediate area,” JM Schapiro, CEO of Continental Realty Corp., said in a statement.

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