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