Exclusive: Greystar Sells Charlotte Community for $68M
The property came online last year.
Greystar has sold Axis at the Park, a 348-unit upscale community in Charlotte, N.C., for $68 million or $195,508 per unit, according to Yardi Matrix data. Sherman Residential purchased the asset with the help of a five-year, fixed-rate $47.2 million acquisition loan issued by Jackson National Life Insurance Co., the same source shows.
Completed in 2024, Axis at the Park comprises 11 two-, three- and four-story buildings, enclosing 215 one-bedroom, 113 two-bedroom and 20 three-bedroom apartments. The residential units range from 560 to 1,615 square feet. Shared amenities include a fitness center, clubhouse, swimming pool, tennis court and grade-level parking with 425 spots.
Axis at the Park is at 5200 Oxford Pond Drive, near Interstate 85, which connects the property to downtown Charlotte, some 10 miles southwest. Other major thoroughfares in the area include Interstate 77, U.S. Route 29 and State Highway 49. The community is also within two miles from the Atrium Health University City Hospital, as well as several retail options, including IKEA, Walmart and Target.
Charlotte multifamily looks up
In the first three quarters of this year, Charlotte saw $1.3 billion in multifamily transaction volume, with 32 properties trading at an average per-unit price of $215,275, Yardi Matrix data shows. Both this year’s total and the average per-unit figures upstaged last year’s numbers.
In the first nine months of 2024, the metro registered $1.1 billion in investment sales, with 43 assets changing hands at an average price of $150,253 per unit. This discrepancy reflects a greater number of Renter-by-Necessity and fully affordable multifamily properties trading in 2024, whereas 2025’s activity was driven by newer, Lifestyle assets.
Earlier this summer, Mesirow Financial paid $83.7 million for Gramercy Square at Ayrsley, a 358-unit multifamily property in Charlotte, N.C., according to Yardi Matrix. Simpson Housing sold the community.
