MHA Leads $27M Sale of North Carolina Communities
- Apr 25, 2016
Charlotte, N.C.—Multi Housing Advisors recently arranged the sale of two apartment communities located in the Triad Region of North Carolina in two separate transactions: 192-unit Spring Forest at Deerfield and 294-unit Chesterfield changed ownership for $27.1 million.
MHA’s Charlotte office team representing the sellers included Marc Robinson, Jordan McCarley and Watson Bryant.
Cottonwood Residential sold Spring Forest at Deerfield to Peak Capital. Located at 100 Willow Brook Court, the community features one-, two- and three-bedroom floorplans. The property features units ranging between 850 and 1,443 square feet and rent prices between $715 and $1,054, according to Yardi Matrix data.
Brown Investments sold Chesterfield to an undisclosed buyer. Located at 3411 Old Vineyard Road, the property features two- and three-bedroom floorplans. According to Yardi Matrix, unit sizes range between 882 and 1,057 square feet with rents between $595 and $810. Community amenities include a swimming pool, two laundry facilities and 610 parking spaces.
“As the Triad continues to expand its economy, embracing industries as diverse as aerospace, bioscience and logistics, the multifamily market remains steady,” said Robinson in a prepared release. “Investment capital has taken notice as Triad job growth remains positive and rent growth healthy.”
Images courtesy of Yardi Matrix