HHHunt Pays $91M for Charlotte Community

Abberly NoDa Vista

HHHunt has acquired Abberly NoDa Vista—formerly known as Live at NoDa—a 261-unit multifamily wrap-style community in the NoDa neighborhood of Charlotte, N.C.

JLL Capital Markets brokered the $91 million transaction and arranged a $60.3 million floating-rate, bridge loan for the acquisition.

According to Yardi Matrix, the asset traded last year, when Knightvest Capital bought the property from Wood Partners for $64.8 million. The same data provider reveals that the sale was subject to a $37.7 million loan originated by TIAA.

Completed in 2019, Abberly NoDa Vista offers a mix of one-, two- and three-bedroom units, averaging 892 square feet. The property’s amenities include an elevator, a barbecue grill, a picnic area, as well as EV charging stations, private balconies and patios.

HHHunt’s expansion in North Carolina

Abberly NoDa Vista is situated at 2120 N. Brevard St., less than 3 miles from downtown Charlotte and just across the street from the 25th Street Lynx Blue Line train station, offering commuting options to the University, Uptown and South End. An array of employment centers, lifestyle amenities and entertainment venues are situated nearby.

JLL’s Matthew Lawton, John Gavigan, John Mikels and Nick Brown led the team that represented the buyer, while Travis Anderson and Warren Johnson led the Debt Advisory team that arranged the financing.

With $2.1 billion in multifamily assets changing hands in the first half of 2022, multifamily demand in Charlotte remains strong, due to a high population growth, thriving economy and affordable lifestyle. Earlier this month, HHHunt broke ground on two communities in North Carolina. The projects will see first move-ins by the winter of 2023.

According to Yardi Matrix, the company’s Charlotte portfolio comprises a total of 1,944 units across six properties. HHHunt also owns four properties in the Raleigh–Durham area, totaling 1,523 units.