Multi Housing Advisors Brokers Sales of Six North Carolina Apartment Communities for a Total $34.3 Million

  

Beacon Eastchase Apartments, 1600 Chasewood Drive, Charlotte, NC

  

CHARLOTTE, NC — Multi Housing Advisors (MHA) has brokered the sales of six North Carolina apartment communities totaling 1,261 units. The properties sold for a total of $34.3 million.

Marc Robinson

 Marc Robinson and Jordan McCarley of MHA’s Charlotte office represented the sellers in all six transactions. The buyers were not represented by brokers.

 “These recent transactions demonstrate that the multifamily market continues to recover with greater numbers of investors seeking value-add opportunities,” McCarley said.

The sales included:

• The 220-unit Beacon Eastchase, located at 1600 Chasewood Dr. in Charlotte. Eller Capital Partners purchased the value-add property for $8.3 million.

Jordan McCarley

• The 109-unit Lemans at Lawndale, located at 2005 W. Cone Blvd. in Greensboro, N.C. SBV Communities acquired the Class C property for $2.7 million.

• The 106-unit Lexington Commons, located at 2316 Golden Gate Dr. in Greensboro. SBV Communities purchased the Class C property for $3.4 million.

• The 180-unit Fox Run, located at 301 West Vandalia Rd. in Greensboro. Richard Anderson acquired the property for $4 million.

• The 454-unit The Park, located at 2332 Dunlavin Way in Charlotte. Northland Investment Corp. sold the property to FMM for $12.3 million.

Hanover Landing Apartments, 5920 Monroe Road
Charlotte, NC

• The 192-unit Hanover Landing, located at 5920 Monroe Rd. in Charlotte. Ellington Management Group acquired the property for $3.6 million.

 “Our Charlotte office continues to gain market share and momentum in the Carolinas as we serve our expanding client base,” said Robinson.

  

MHA recently expanded its Charlotte office and intends to open additional offices in the South. 

The firm has made a number of significant new hires over the past year as well, adding experienced brokers to expand its geographic reach and to take advantage of the increasing volume of multifamily investment sales.

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

Stephen Ursery

The Wilbert Group

404-965-5026 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

 www.usmha.com.