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Solis Berewick, a 275-unit, Class A apartment community, 9550 Gannon Drive, Charlotte, NC
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CHARLOTTE,
NC – June 11, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces
it has closed the $57.3 million sale of Solis Berewick, a 275-unit,
Class A apartment community in Charlotte, North Carolina.
HFF
marketed the property on behalf of the seller, Terwilliger Pappas, and procured the buyer, RK Properties.
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| Allan Lynch |
Solis
Berewick is located at 9550 Gannon Drive next to the grocery-anchored
Berewick Town Center development, part of the 1,200-acre Berewick
master-planned community in southwest Charlotte.
The property’s prime location also provides accessibility to Interstate 485 and
top employers in the Uptown Charlotte and Ballantyne employment hubs.
Completed in 2017, Solis Berewick has units
averaging 1,016 square feet featuring top-quality finishes such as ENERGY STAR®
stainless steel appliances, custom-built white cabinetry, granite countertops,
plank flooring, oversized windows, full-size washers and dryers, Nest Learning
Thermostats, ButterflyMX video intercom systems, and spacious balconies and
patios.
The NGBS
Green Certified community also features high-end amenities, including a
resort-style saltwater pool, outdoor grilling area with fire pit, gaming and
entertainment lounge, state-of-the-art fitness center, private yoga/spin
studio, dog park and pet spa, electric car charging stations, community nature
trail and playground.
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| Justin Good |
The HFF
team was led by senior director Allan Lynch, managing director, Justin
Good, director Caylor Mark and managing director Jeff Glenn.
“With
the vision and execution of Solis Berewick, Terwilliger Pappas delivered a
high-performing, premier asset in one of the fastest growing areas of
Charlotte,” Lynch said.
“With its investment, RK Properties certainly
recognized these attributes, and we are excited to be a part of their first
acquisition in Charlotte.”
Holliday
GP Corp. (“HFF”) is a North Carolina licensed real estate broker.
About
Terwilliger Pappas
Terwilliger Pappas is one of the Southeast's leading
developers of multifamily communities, dedicated to creating best-in-class
apartment homes that deliver outstanding financial performance to its
partners.
Based in Charlotte, North Carolina, with offices in Atlanta
and Raleigh, Terwilliger Pappas has developed 20 communities under its marquee
brand, Solis, since 2013.
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| Caylor Mark |
The company's strategic site selection and understanding of
the areas it develops, leads to an informed and unique design, making Solis an
integral part of their surrounding communities.
About RK Properties
Since its founding in 1976, RK Properties has purchased and
managed over $1.5 billion in multifamily apartment assets.
The company
offers multifamily replacement properties for 1031 tax deferred exchanges, as
well as DST and fund investment opportunities for accredited investors who are
seeking a real estate investment.
As of this closing, RK Properties has
sponsored approximately 151 private placement programs, of which 134 programs
have gone full cycle. Solis Berewick is RK Properties’ fifth acquisition
in the Southeast since 2017 as it continues its expansion in the region.
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| Jeff Glenn |
CONTACTS:
ALLAN LYNCH
NC Lic. #277156
HFF Senior Director
(704) 526-2819
OLIVIA
HENNESSEY
HFF
Public Relations Specialist
(713)
852-3403
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