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| 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.
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| 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)
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