MHA Brokers Sales of Two Charlotte, NC Apartment Communities for a Total $39.9 Million

Marc Robinson

CHARLOTTE, NC (April 29, 2015) — Multi Housing Advisors (MHA) has arranged, in separate transactions, the sales of two Charlotte apartment communities for a total of $39.9 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

Details of the deals are below:

·      White Point Partners acquired the 202-unit Tryon Park at Rivergate, located at 12620 Toscana Way, from Meridia.“There continues to be an incredible demand for quality product, which, in turn, is resulting in more creative deal structures such as this pre-stabilized sale,” McCarley said. 

“The Steele Creek area continues to demonstrate strong fundamentals with limited remaining multifamily development sites resulting in a submarket with very attractive supply-and-demand characteristics.”

·       JEM Holdings acquired the 254-unit Wellington Farms, located at 4700 Twisted Oaks Road, from Wellington United. This transaction was JEM Holdings 6th Charlotte acquisition over the last 18 months.

Jordan McCarley

“Wellington Farms is a well-located asset within Charlotte that caters to multiple rental segments,” McCarley said. 

“We feel strongly that the property will continue to capitalize on the economic momentum of the market and provide sustained growth for new ownership.”

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com