Wednesday, February 17, 2016

MHA Brokers $38.1 Million Sale of Three Apartment Communities in Charlotte, NC

Mission Harris Pavilion Apartments, Charlotte, NC

 CHARLOTTE, NC (Feb. 17, 2015) — Multi Housing Advisors (MHA) has arranged the $38.1 million sale of the Middleburg Mission Portfolio located in Charlotte, North Carolina. The 618-unit portfolio consists of three apartment communities built between 1997 and 1999.

Mission Reedy Creek Apartments
Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Mission Charlotte DST, in the transaction. The properties were purchased by LIV Apartment Partners, LLC.

“Charlotte continues to demonstrate some of the strongest multifamily fundamentals in the country, reaffirming its position as a top market going into 2016,” Robinson said. “This portfolio provides the buyer with a strategic investment in a region poised to provide promising returns for years to come.”

Details of the deals are below:

·        Mission Harris Pavilion, a 249-unit property built in 1997, is located at the intersection of University City Boulevard and Interstate 485 in the University Area. The desirable neighborhood anchored in education and innovation, is situated within minutes of the area’s most dense clusters of employment and retail, including 23 Fortune 500 companies and over 25 energy, research and technology focused companies.

Mission Control Place Apartments
·        Mission Reedy Creek, a 207-unit property built in 1999, is located on East WT Harris Boulevard, a highly travelled thoroughfare that provides convenient access to the nearby employment nodes of Uptown and University City. The established suburb around Mission Reedy Creek is forecasted to grow in population.

·        Mission Concord Place, a 162-unit property built in 1997, is located in a desirable and fast growing city in the Charlotte MSA. It is a highly accessible location tucked off Interstate 85, providing quick access to Charlotte in addition to the Triad and Triangle Regions of North Carolina.

For a complete copy of the company’s news release, please contact:

Deborah Rogers
Multi Housing Advisors

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