Why a Raleigh Firm Was Forced To Sell Hillsborough Apartments in Less Than 2 Years
A Raleigh real estate company was forced to sell a Hillsborough apartment complex less than two years after acquiring it because of a shakeup with the firm’s Australian partner. But Brad Minsley, co-founder of 10 Federal, isn’t necessarily complaining.
His firm partnered with US Residential Fund, a publicly-traded company based in Sydney, Australia, to buy the Patriot’s Pointe apartment community in Hillsborough last year for $21.5 million. In October, the group turned around and sold the property for $25 million.
