KETTLER Acquires Residential Property 'The Aster'

CARY, N.C., Aug. 7, 2019 /PRNewswire/ -- On July 30, 2019, KETTLER and Pacific Life closed on acquiring The Aster located in Cary, North Carolina. The Aster is currently in lease-up with a mix of residential units, including 49 townhomes, 238 manor style apartments, and 206 garden style apartments. The Aster is located approximately 7 minutes from Research Triangle Park (RTP) and approximately 15 minutes from the Raleigh-Durham International Airport. The property features impressive lifestyle amenities including a golf simulator, putting green, outdoor fire pit, hammock courtyard, three pools, game room, theatre room, bike workshop, pet parlor, and an expansive wellness center and trail network.

"Cary, North Carolina is a booming creative class market and we are excited to invest in such a dynamic growth area," said Bob Kettler, Founder and CEO of KETTLER. "A new property as unique as The Aster is the perfect fit for us, especially as KETTLER is strategically focused on expanding into the southeast."

"We are excited to acquire such a high quality asset in the affluent submarket of Cary," said Luke Davis, Executive VP of Real Estate Investments at KETTLER. "We would like to extend our gratitude to investment partner Pacific Life, as well as to Andrea Howard of JLL for her help with the transaction."

The Aster is the only property in the Research Triangle Area to offer three different residential styles: townhome, manor and walk-up. The combination of residential options appeals to a wide base of renters, ranging from millennials to empty nesters. The property is adjacent to one of only six Whole Foods locations in the Triangle and is within the Wake County Public School System, one of the top performing public school systems in the region.

About KETTLER:
KETTLER is an award-winning, multifamily developer, real estate investment, and property management company. Founded in 1977, the company has developed over 20,000 multifamily units, 5 million square feet of commercial space, more than 46,000 homes in 25 master-planned communities, and many of the D.C. Region's premier mixed-use communities. Headquartered in McLean, Va., the company manages about 20,000 apartments in the Northeast, Mid-Atlantic, and Southeast regions. For more information, visit www.KETTLER.com.

SOURCE KETTLER

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https://www.kettler.com