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Arbor Ridge apartment complex sells for $43 million
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Arbor Ridge apartment complex sells for $43 million

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The Arbor Ridge apartment complex in Greensboro has been sold for $43 million to a Dallas real-estate management group, according to a Guilford County Register of Deeds filing Wednesday.

The 304-unit complex at 7 Woodstream Lane was purchased by ECP II Arbor Ridge Owner LLC, an affiliate of Expedition Capital Advisors LLC.

According to Expedition's website, it is the company's third acquisition in the Southeast, which it defines as the Carolinas, Georgia and Florida.

The seller is Arbor Ridge Property LLC of New York. The sale was completed Tuesday.

Arbor Ridge purchased the complex in April 2017 for $19.9 million.

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@rcraverWSJ

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