Oaktree Capital Management Sells Cortland Apartments in Morrisville, N.C.
(Gabriela - stock.adobe.com)
Los Angeles-based investment firm Oaktree Capital Management LP, in partnership with Cortland Investment Management LLC, sold Cortland Perimeter Park apartments in Morrisville, North Carolina, to AvalonBay Communities Inc. for $66.5 million on July 31. In connection with the acquisition, the apartment community name was changed to Avalon Perimeter Park.
The property has 262 units and was built in 2018. It is located near the Triangle Research Park in North Carolina.