Apartments in northwest Raleigh sell for $27 million

The Olde Raleigh apartments off Duraleigh Road in northwest Raleigh have been acquired for $27 million, according to Wake County property records.

Chaucer Creek Capital, which specializes in garden apartments in the Southeast, bought the 228-unit property from Fairfield Residential. Chaucer Creek already owns three other apartment complexes in Raleigh and one in Chapel Hill.

San Diego, Calif.-based Fairfield acquired the property in 2005 for $21.225 million, according to property records. The complex was built in the mid-1990s.