Knightvest, Invesco Pay $70M for Charlotte Asset

Completed in 2016, the property traded only once before.

The Apartments at Brayden

The Apartments at Brayden. Image courtesy of Yardi Matrix

A joint venture between Knightvest Capital and Invesco Real Estate has acquired The Apartments at Bryden, a 332-unit, value-add multifamily community in Fort Mill, S.C., in the Charlotte area. The asset traded for $70 million, involving a $52.4 million loan from CrossHarbor Capital Partners, public records show. The property last changed hands in 2018, when White Oak Partners purchased it for $51.2 million, according to Yardi Matrix data.

Completed in 2016, the community comprises 18 buildings, which incorporate one-, two- and three-bedroom floorplans ranging from 629 to 1,680 square feet. All residences feature in-unit washers and dryers. Common-area amenities include a swimming pool, fitness center, clubhouse, pet park and an outdoor kitchen, along with 664 parking spaces.

Located at 1027 Aubrey Lane, the 35-acre site is off Highway 160 and close to Interstate 77, some 18 miles from downtown Charlotte and less than 4 miles from central Fort Mill. It is also roughly 20 miles from Charlotte Douglas International Airport. In the community’s proximity, there are numerous retail and dining options.

This transaction marks Knightvest’s entry into South Carolina and the fifth acquisition in the Greater Charlotte metro area since 2020. David Moore, the company’s CEO, emphasized in prepared remarks the firm’s investment strategy targeting assets across the Sun Belt, while also mentioning capital improvement plans for The Apartments at Brayden. A recent report shows that although Charlotte is registering dampening fundamentals, it is still performing above national figures. Last year through November, transaction volume in the metro reached $4.7 billion.

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