DURHAM, NC – April 10, 2017 – Blue Heron Asset Management is pleased to announce it has successfully acquired an ownership interest in a 229-unit Class-A multi-family and 10,000 sq.ft. retail property on Ninth Street in Durham, formerly known as Solis Ninth Street. This is the sixth acquisition for Blue Heron’s Real Estate Opportunity Fund II.
The property, in the process of being rebranded as 810|Ninth, is located within walking distance of Duke University, Duke Medical Center, Whole Foods, Harris Teeter, numerous restaurants, shops, and other urban amenities including local gyms, bars, and entertainment venues. Maurice Malfatti, managing partner of Blue Heron, commented, “We are bullish on Durham and believe in its growth and innovation story. 810|Ninth – our largest single investment to date - is a solid addition to our fund, which targets investments in Southeastern US markets, like Durham, that exhibit strong job and population growth and diverse economic drivers. We love the walkability and neighborhood feel of Ninth Street and are excited to be part of the local ownership group that will own and operate the property for years to come.”