Colliers International Closes $4 Million Sale Near Elon

by Katie Sloan

Elon, N.C. — The Preiss Company sells to private investor.

Crest at ElonElon, N.C. — The Preiss Company, represented by Colliers International Student Housing Group, has sold the Crest at Elon for $4 million to a California-based private investment group. The Preiss Company acquired the property in 2011 for $2.6 million. Elon University is master leasing the 50,400-square-foot Crest at Elon, and the buyer will retain The Preiss Company as manager.

The apartments are 100 percent occupied. Steven Peden, senior vice president for Colliers International, Raleigh-Durham, in partnership with Sean Baird, associate of the Colliers International Student Housing Group, supported The Preiss Company throughout the transaction.

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