Real estate investment group buys historic downtown Raleigh apartments

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Boylan Apartments Raleigh

The historic 55-unit Boylan Apartments campus at the corner of Hillsborough St. and Boylan Ave., near downtown Raleigh, was acquired by a Chapel Hill real estate investment group to upgrade all of the units with modern interior finishes, reports Triangle Business Journal.

An affiliate of Blue Heron Asset Management LLC, a real estate investment fund led by Chapel Hill developer Ron Strom, has paid $6.3 million for the three, and closely clustered three-story apartment buildings, according to county records.

Originally built in 1935, the colonial revival-style buildings were last renovated in 2007.

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