Dominion Realty Sells $69M NC Community

Centric Gateway

Dominion Realty Partners has sold Centric Gateway, a recently completed residential property in Uptown Charlotte, N.C., for $69.3 million. HFF worked on behalf of the seller to complete the sale of the 297-unit asset. Nuveen affiliate TH Real Estate purchased the community free and clear of existing debt.

Located at 1010 W. Trade St., Centric Gateway is close to several employment, retail and entertainment options including Gateway Village, Johnson & Wales University, Romare Bearden Park, Bank of America Stadium, BB&T Ballpark and Spectrum Center. The property comprises a mix of studio, one- and two-bedroom units, ranging between 617 and 1,196 square feet, according to Yardi Matrix data. Each apartment features stainless steel appliances, plank flooring, walk-in closets, washers, dryers and private patios or balconies. Besides nearby access to bike share stations, light rail and bus service, amenities include:

• saltwater pool
• outdoor grilling and dining areas
• fitness center
• sport courts
• club lounge with game room

HFF Managing Directors Justin Good and Jeff Glenn, Senior Director Allan Lynch and Director Caylor Mark were part of the team that brokered the disposition of the National Green Building Standard Bronze-level certified building.

Dominion Realty Partners is also involved in the senior housing industry. Its senior housing arm—Dominion Senior Living—broke ground last May on Dominion Senior Living of Anderson, an assisted living and memory care community in Anderson, S.C. The $9.5 million, 44,000-square-foot project will offer 45 assisted living and 15 memory care apartments. 

Image courtesy of ClearSky Photography