DURHAM — Affiliates of Franklin BSP Realty Trust acquired two apartment complexes near Southpoint in a $65 million foreclosure transaction, transferring control of nearly 47 acres of Durham multifamily property from entities tied to S2 Capital.
Durham County’s current property records list FBRT Calibre Park Owner LLC and FBRT Hope Valley Owner LLC as the owners of parcels REID 135686 and REID 135737. Both records point to the same trustee’s deed, dated Sept. 10, 2026, in Book 10623 at Page 153, with $130,000 in excise-tax stamps.
North Carolina imposes the deed excise tax at $1 for each $500 of consideration. Applying that statutory rate to the recorded stamps reproduces a $65 million transaction price. The county system also displays inconsistent package-sale figures on the individual parcel pages, so NC Business Desk did not use those values.
The county records describe the 32.31-acre property at 4613 Hope Valley Road as Woods Edge Apartments and the 14.38-acre property at 7131 N.C. 751 as Sterling Park Apartments. Together, the parcels contain 42 buildings and 465,998 square feet of gross leasable area. Their combined county appraised value is $60.84 million; assessed value is not the same as market price.
Triangle Business Journal independently reported that the properties, marketed as LYV Woodcroft at Southpoint and LYV Durham at Southpoint, were acquired by Franklin BSP at an Aug. 18 foreclosure auction for $65 million. The publication reported that the foreclosure followed a default by S2 Capital on a loan of about $83 million from Franklin BSP.
The dates mark separate stages: the foreclosure auction occurred Aug. 18, the trustee’s deed is dated Sept. 10 and the independent report was published Sept. 22. The transaction is complete in the county ownership records.
The business consequence is a change in control of two large Durham apartment assets from borrower-linked entities to lender-linked owners. That gives Franklin BSP affiliates direct control of the real estate and its operating income, but no source reviewed by NC Business Desk announced redevelopment, renovation, rent changes or tenant displacement.
Image: File photograph of Carver Pond Apartments in Durham, visibly labeled as not depicting the LYV properties. Ildar Sagdejev/Wikimedia Commons, CC BY-SA 4.0.