 |
| The Bryce North Charlotte apartments, formerly known as Bexely Creekside, a 494-unit luxury apartment community at 101 Double Creek Crossing Drive in the University City neighborhood |
ATLANTA, GA – Multifamily developer and investment firm
Pollack Shores Real Estate Group is expanding its footprint in metro Charlotte
after announcing the acquisition of The Bryce North Charlotte apartments,
formerly known as Bexely Creekside, a 494-unit luxury apartment community.
Located at 4101 Double Creek Crossing Drive in the
University City neighborhood, the purchase of The Bryce marks Pollack Shores’
official return to Charlotte’s northern suburbs 2.5 years after selling
Thornberry in the University City submarket.
 |
| Steven Shores |
The firm plans a $6.6 million capital improvement project
that will incorporate upgraded amenities, offering a competitively priced
alternative to new multifamily product that recently delivered in the
submarket.
Enhancements
to The Bryce will include the conversion of the existing volleyball court
into a greenspace that will host an outdoor beer garden and grilling area.
Other outdoor amenities at the 480,591-square-foot community
include a 3-hole golf course, a tennis court, resort-style pool and several
walking trails.
The clubhouse will undergo a significant renovation,
including expansion of the gym and updates with modern furniture and equipment.
“The Bryce presents a rare value-add opportunity allowing us
to continue to invest in Charlotte and its’ surrounding neighborhoods,” said Steven
Shores, President and CEO of Pollack Shores.
 |
| Andrew Wittgen |
"Metro Charlotte and the north suburbs continue to be a
key focal point for Pollack Shores, and we look forward to growing our presence
in the area in the coming years.”
The project is poised to benefit from an influx of new jobs
and residents nearby. University Research Park and Innovation Park are both
within a 10-minute drive of the property, part of an employment node that
includes 23 Fortune 500 companies and 11 million square feet of office space.
UNC-Charlotte, home of 30,000 students and more than 4,000
employees, is also a short drive away.
 |
| The Bryce Apartments Charlotte, front view |
“This was the ideal location to re-enter the market, and
we’re thrilled to add The Bryce to our fast-growing portfolio in the
Carolinas,” said Andrew Wittgen, Managing Director of Asset Management at
Pollack Shores.
“We anticipate
significant leasing momentum through strategic renovations that will deliver an
exceptional experience for residents, and are eager to get started.”
For more information
about Pollack Shores, please visit pollackshores.com/.
For more information
about Matrix Residential, please visit matrixresidential.com/.
CONTACT:
Nick Banaszak
The Wilbert Group
256-457-5384 (C)
No comments:
Post a Comment