CBRE Secures $33M Acquisition Loan for SC Community
- Oct 05, 2018
A CBRE Capital Markets team has secured $33.1 million in acquisition financing for a 332-unit community in Fort Mill, S.C. Vice Presidents Nate Sittema and Kristen Reilley of CBRE’s Charlotte office worked on behalf of an undisclosed buyer that acquired The Apartments at Brayden.
Life Insurance Co. secured the permanent financing for the recently built asset, which reached stabilization at closing. According to Yardi Matrix data, Charter Properties is the former owner of The Apartments at Brayden.
Located at 1027 Aubrey Lane, just southeast of Charlotte, N.C., the community provides easy access to Interstate 77. A 45,000-square-foot Earth Fare-anchored retail development is currently underway right across from the property, with signed tenants including Pet Supermarket, Bella Nail Salon and Club Pilates.
Diverse unit types
The Apartments at Brayden features one- to three-bedroom units, townhouses and lofts, averaging 925 square feet. Amenities at the property include:
- swimming pool
- fitness and business center
- electric car charging stations
- 664 parking spaces
“Fort Mill has seen explosive residential growth in recent years bolstered by a phenomenal school system and a very enjoyable live-work balance. The Apartments at Brayden benefits from its location directly in the heart of this growth pocket and presented an opportunity to secure the community at an appealing basis, and with room to run as the market continues to strengthen around them,” said Sittema, in a prepared statement.
Earlier this year, Sittema and Reilley were involved in the disposition of The Reserve at Park Place in Morrisville, N.C.
Image courtesy of Yardi Matrix
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