StoneRiver Co. purchased the 288-unit 198 Milltown Apartments from Zimmerman Development Co. for $66.9 million.

198 Milltown Apartments, which are located at 198 Milltown St., were built in 2020 and offer one-bedroom, two-bedroom and three-bedroom units, with sizes ranging from 700 square feet to over 1,200 square feet. The complex is just north of Interstate 40/85 on the west side of University Drive in a high-growth area near Alamance Crossing and only a few minutes from Elon University.

The apartment’s amenities include a 24-hour health club, resident lounge, pet spa and pet park,  salt-water swimming pool, outdoor social lounge and grill area, Amazon package lockers, a playground, a car care center and garages. 

The Triad Business Journal reports that the acquisition is the first investment by StoneRiver Investment Fund III, which includes institutional, family office, and high-net-worth investors, according to a press release from Berkadia. StoneRiver Investment Fund III recently held its initial equity closing and raised $81.75 million in capital commitments.

A judge approved the sale of Alamance Crossing, an 855,000-square-foot shopping center in Burlington, to Real Capital Solutions for $38.5 million. The Triad Business Journal reports that Alamance Crossing has faced financial troubles in the past few years. In 2023, the Alamance County Superior Court appointed Spinoso Real Estate Group to take over management from CBL Properties after it defaulted on a $50.8 million bank loan in 2021. In July of 2024, the Alamance Superior Court ordered that the property be listed for sale.

Alamance Crossing is located in the eastern part of Burlington, just off Interstate 40 and near University Drive. The shopping center has retailers including Victoria’s Secret, Shoe Depot, Talbots, Furniture World, Bath & Body Works and Barnes & Noble. It also includes the Southeast Cinemas Alamance Crossing Stadium 16 movie theater as well as restaurants such as Red Bowl Asian Bistro, Cork & Cow, Buffalo Wild Wings and Royal Tea Cafe.

Burlington Stores Inc. successfully bid on 10 Texas leases held by The Woodlands-based furniture and appliance retailer, which filed for Chapter 11 bankruptcy in July.

The leases Burlington will acquire span five states, though most are in Texas. Burlington bid over $6.65 million on the leases. Including cure amounts, the aggregate cost will total approximately $7.09 million.

A full list of Texas properties Burlington successfully bid for, includes stores in three San Antonio locations and one each in McAllen, Dallas, El Paso, Laredo, Amarillo, Texas City and Austin.

The Houston Business Journal reports that Burlington is in the midst of a national expansion effort. The chain plans to open over 100 stores per year for the next five years and is opening four new stores in the Houston area this fall. 

Besides the Conn’s stores, the company acquired 64 leases from Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in 2023 and closed nearly 900 locations.