Cortland Partners Buys 3,265 Charlotte Apartments for $274M
- Mar 10, 2015
Atlanta-based real estate investment firm Cortland Partners has made quite the splash in Charlotte’s apartment market, picking up nine communities totaling over 3,200 units for $273.9 million, reported the Charlotte Business Journal.
Cortland purchased one community from Chicago-based Laramar Group and eight from Dallas-based McDowell Properties.
The newly acquired properties include the 694-unit Waterford Lakes, the 420-unit Sardis Place at Matthews, the 384-unit Aspen Peak, the 384-unit Village Lakes, the 340-unit The Pointe, the 318-unit The Oaks, the 300-unit Hunt Club, the 247-unit Steeplechase and the 178-unit The Regency, reported the Charlotte Business Journal.
Cortland’s new communities come in one- and two-bedroom or one-, two- and three-bedroom configurations. All communities offer extensive amenity packages, with many unique features. Waterford Lakes for example features a hi-tech multimedia theater, two resort-style swimming pools, indoor children’s play area and extra storage units. Sardis Place at Matthews’ resort-style amenities package also includes two swimming pools, as well as a 24-hour fitness center and two lighted tennis courts.
Aspen Peak’s competitive advantage is its walking distance to light rail, along with a volleyball court, business center and swimming pool. Village Lakes pampers its residents with a java bar and two swimming pools with Wi-Fi and apartment fireplaces, while The Pointe boasts a car care center and an indoor basketball court. The Oaks also features an indoor basketball court, along with tennis courts, a sand volleyball court and oversized soaking tubs. The Hunt features poolside gas grills and indoor racquetball court, Steeplechase offers a swimming pool, sundeck and recreational areas, while The Regency also includes a cyber café and coffee center, regulation tennis court and gas grill area.
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Images via Cortland Partners