Dilweg Sells the Courtyard in Chapel Hill
DURHAM, N.C. (July 1, 2019) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of The Courtyard of Chapel Hill, a mixed-use property located at 431 West Franklin Street, to New York based Vista Property Group.
The Courtyard of Chapel Hill is a mixed-use property consisting of more than 17,000 square feet of retail space and 20 residential units, known as The Courtyard Lofts. The property was built in 1982 and renovated in 2013. The Courtyard is situated on 1.06 acres of land, and located within walking distance of the University of North Carolina. Notable tenants include Kipos, Franklin St Yoga, Vimala’s Curryblossom Café and Cat Tales Cat Café. The building was 100 percent leased at the time of sale.
“The disposition of Courtyard marks the sale of our last mixed-use asset, allowing our team to focus on our principal strategy, enhancing office assets in the Southeast,” said Anthony Dilweg, CEO of the Dilweg Companies.
The Dilweg Companies originally acquired The Courtyard in 2010. The firm scraped part of the original property and constructed additional retail space and the 20 residential apartments in 2013.
HFF’s Tom Kolarczyk and Jeff Glenn represented the Seller in the transaction.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1.74 billion in assets and more than 11.6 million square feet throughout North Carolina, Georgia, Florida and Tennessee. For more information, please call (919) 402-9100 or go to www.dilweg.com.