Exclusive: TA Realty Gets $75M for Charlotte Community
TIAA issued an acquisition loan.
TA Realty has sold NoDa Flats, a 273-unit upscale community in Charlotte, N.C., to GrayCo, according to Yardi Matrix information. The buyer paid $75 million for the asset, or $274,725 per unit. TIAA originated a $44 million acquisition loan.
TA Realty previously purchased the property in 2021 from Bainbridge Cos., for $74.2 million, or $271,831 per unit, the same data provider shows.
The current deal comes on the heels of TA Realty’s sale of The Maggie, a 244-unit community in Raleigh, N.C. Tishman Speyer purchased the asset last month, marking the company’s entrance into the metro’s multifamily market.
A closer look at NoDa Flats
The community came online in 2021 and comprises two four-story buildings across a 3-acre site. The unit mix consists of one- to three-bedroom layouts ranging from 585 to 1,810 square feet. Shared amenities include a fitness center, clubhouse, swimming pool and grade-level parking with more than 400 spots. NoDa Flats also features 4,700 square feet of retail space. GrayCo’s property management arm handles the day-to-day operations.
READ ALSO: Multifamily Transaction Activity
Located at 2509 N. Davidson St., NoDa Flats is within 2 miles east of the Charlotte train station and less than 3 miles northeast of downtown. Major thoroughfares in the area include interstates 77 and 277.
Charlotte multifamily plays safe
In 2025, the Charlotte multifamily market registered $1.9 billion in investment sales, with 49 assets or 10,325 units changing hands at an average per-unit price of $208,533, according to Yardi Matrix data. This reflected a notable change from the previous year’s values, when the metro saw approximately $2.3 billion in sales, with 69 properties or 12,643 apartments trading at an average per-unit price of $184,931.
Despite the 17.4 percent year-over-year drop in the total transactions figure, the 12.8 percent rise in the average per unit price reflects selective investor behavior and a shift toward higher-performing assets.
Nationwide, multifamily sales grew to $83.2 billion as of December 2025, marking an increase from 2024’s $82.4 billion figure, according to a recent Yardi Matrix report. Sun Belt and secondary metros recorded the most activity, with Dallas ($3.9 billion), Phoenix ($3.5 billion), Miami ($3.5 billion) and Atlanta ($3.4 billion) at the top of the list.
