Tuesday, April 19, 2016

MHA Brokers Sales of Two Triad Region Apartment Communities in North Carolina for a Total of $27.1 Million

Chesterfield Apartments
CHARLOTTE, N.C. (Apr. 19, 2015) - Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of two apartment communities located in the Triad Region of North Carolina. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

“As the Triad continues to expand its economy, embracing industries as diverse as aerospace, bioscience and logistics, the multifamily market remains steady,” Robinson said. “Investment capital has taken notice as Triad job growth remains positive and rent growth healthy.”

Details of the deals are below:

Spring Forest at Deerfield Apartments
·        Cottonwood Residential sold Spring Forest at Deerfield to Peak Capital. The 192-unit property was built in 2002 and is strategically located along Interstate 85 in an area commonly referred to as the “Carolina Corridor”, which connects two of the fastest growing metro areas on the East Coast.

·        Brown Investments sold Chesterfield to an undisclosed buyer. The 294-unit property was built in 1980 and 1983. 

The property is conveniently located in Winston-Salem next to major employment opportunities and retail destinations such as the Forsyth Medical Center, Wake Forest University Baptist Medical Center, and Hanes Mall.

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

Deborah Rogers
Multi Housing Advisors

No comments: