MHA Arranges Sale of Lake Norman Property
Multi Housing Advisors has arranged the sale of The Reserve at Kenton Place for $33.7 million. The Class A property was built in 2014 and is comprised of 210 units.
By Alex Lopez, Associate Editor
Charlotte, N.C.—Multi Housing Advisors has arranged the sale of a Class A property in Cornelius, N.C. The Reserve at Kenton Place will be sold to Middle Street Partners for $33.7 million.
The community is comprised of 210 units and is a newly constructed low-rise, featuring elevators, high ceilings, mahogany cabinetry, granite counter tops and stainless steel appliances. Located in the Lake Norman area, the property is in one of the most desired residential areas of Charlotte.
Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Kenton Place Partners LLC managed by Jeffrey L. Byrd and Lance E. Youngquist, in the transaction.
“We feel that this high-quality asset will provide the new owner with promising returns in what continues to be a very attractive, high growth market for investment capital,” McCarley told MHN. “The property’s Lake Norman location provides a combination of convenience and efficiency that caters to its fast growing population.”
Photo courtesy of MHA.