EXCHANGE ON ERWIN
DURHAM, NORTH CAROLINA
The Exchange on Erwin is an infill mixed-use project which includes 97,000 square feet of retail, restaurants, and office space, a 265-unit newly constructed apartment community, and a 631-space adjoining parking deck. The property is located within walking distance to Duke University, Duke Medical Center, and the VA Hospital.
In November 2015, Ram acquired the existing commercial building and parking deck, as well as approximately 5 acres of adjoining land, in an off-market transaction from a local developer.
Ram executed a value-add strategy on the existing improvements and developed a 265-unit luxury apartment community on the acquired land. The completed and fully leased mixed-use project was sold to an institutional investor in November 2019.