Charlotte Community Trades for $34M

Greystone provided the buyer, Dasmen Residential, with a 10-year Freddie Mac acquisition mortgage for the Class B, 320-unit multifamily asset.
Safire at Matthews Apartments. Image via Google Maps

Eaton Vance Investment Managers has sold the Safire at Matthews Apartments, a 320-unit Class B property in Charlotte, N.C., to Dasmen Residential for $34 million, according to Yardi Matrix data. Greystone originated $27.3 million in Freddie Mac financing for the buyer. The loan has a 10-year term.

Located at 7900 Krefeld Drive in the city’s Matthews submarket, the garden-style community’s 14 buildings are situated 8 miles southeast of downtown Charlotte. The property is a stone’s throw from both the Independence Boulevard retail corridor and two public bus routes, linking the asset to the wider metro.

Safire at Matthews contains a mix of one- and two-bedroom apartments, with floorplans ranging between 553 and 1,081 square feet. Community amenities include a clubhouse, a swimming pool, two laundry facilities and a tennis court. In February, the property was 95.9 percent occupied, per data from Yardi Matrix.

Dasmen has been on a buying spree in North Carolina in the past year, acquiring seven communities totaling 2,188 units. In November, the firm paid $38 million for a 360-unit property near Raleigh.