Thompson Thrift Sells 276-Unit Charlotte Community
The buyer took out a $43.3 million Fannie Mae loan.
Thompson Thrift has sold Taylor Farms, a 276-unit multifamily property in Charlotte, N.C. Mesa Capital Partners acquired the asset and, according to public records, took out a $43.3 million Fannie Mae loan through Northmarq Capital Finance.
Northmarq also brokered the deal. Pegasus Residential will manage the community.
The property came online last year. The developer funded the construction with a $40.9 million loan originated in April 2021 by UMB Bank, according to Yardi Matrix data.
Taylor Farms encompasses eight three-story buildings spread across almost 15 acres. The unit mix consists of one-, two- and three-bedroom floorplans, ranging between 689 and 1,369 square feet. Apartments features private balconies or patios and walk-in closets.
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Common-area amenities include a clubhouse with TVs, conference rooms, technology centers and a fitness center. Additionally, the property has a swimming pool with hot tub and sundeck, dog parks and spas, grilling and picnic areas, an outdoor kitchen and electric firepit.
The community is at 2311 Odell School Road, providing easy access to Interstate 485. Downtown Charlotte is 15 miles away, while the Charlotte Douglas International Airport is some 19 miles southwest.
Northmarq Senior Vice Presidents John Currin and Caylor Mark, Regional Managing Director Andrea Howard and Vice President Austin Jackson, along with Managing Directors Allan Lynch and Jeff Glenn, led the team that brokered the sale.
Thompson Thrift’s recent multifamily deals
As of October, Thompson Thrift’s multifamily portfolio consisted of more than 23,500 residential apartments spread across 23 states. The firm’s total investment volume at the time was estimated to exceed $6 billion.
Last month, the firm sold Citadel at Castle Pines, a 214-unit multifamily property in Castle Pines, Colo., for $101 million. RREEF Property Trust acquired the asset that came online last December.
A couple of months earlier, Thompson Thrift sold another asset: the 360-unit Apex in Colorado Springs, Colo. That community came online in March last year and comprises 11 three-story buildings.
