Core Spaces Acquires 822-Bed Community Near North Carolina State University

Raleigh, N.C. — Core Spaces has acquired Stanhope Student Apartments, an 822-bed community serving students attending North Carolina State University in Raleigh. The property offers a mix of studio, one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a resort-style swimming pool; movie theater room; cyber cafe; art studio and drafting room; study lounges; a two-story fitness center; fire pit and grilling area; spray tanning; a stand-up tanning bed; game room; and ground level retail occupied by CVS/pharmacy, Smoothie King, Penn Station Subs, Cha House and Mulan Ice Cream & Milk Tea. The seller was an affiliate of developer Kane Realty and Val Valentine of Valentine Properties. Geoff Loftin and Jim Anthony of APG brokered the transaction, terms of which were undisclosed.