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| Andrea Howard |
CHARLOTTE, NC, Nov. 30, 2020 – JLL Capital Markets announced today that it has closed the sale of the 150-unit Residence at SouthPark
JLL closed the property sale from institutional investors advised by J.P. Morgan Asset Management to a fund sponsored by CBRE Global Investors.
Built in 2007, the Residence at SouthPark offers one-, two- and three-bedroom apartments that average 1,573 square feet each.
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| 150-unit Residence at SouthPark, Charlotte, NC |
The property sits on 5.56 acres and totals 236,189 square feet, holding 96% occupancy. All units include 10-22’ ceilings, built-in bookcases and workstations, gourmet kitchens, washers and dryers, granite countertops and stainless-steel appliances.
Additionally, the Residence at SouthPark offers penthouse and loft apartments. Community amenities include a rooftop deck with a saltwater pool and firepits, club level with skyline views, 24-hour fitness center, business center, game room and a coffee, tea and wine bar.
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| Allan Lynch |
With walkability to local dining, retail and grocery top-of-mind, the apartments are in close proximity to Whole Foods and the premier SouthPark Mall and Sharon Square shopping destinations, among others.
SouthPark is near other elite Charlotte neighborhoods such as Myers Park, which is just five minutes from the property and offers more than 675,000 square feet of office and 247,000 square feet of retail; and Dilworth, which offers over 767,000 square feet of additional retail, restaurants, galleries, pubs and more.
The JLL Capital Markets team representing the seller was led by Allan Lynch, Andrea Howard, Caylor Mark, John Currin and Jeff Glenn.
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| Caylor Mark |
“The community’s concrete construction and oversized units also make it one of the most attractive assets in the Carolinas.”
“The Residence at SouthPark is a well-maintained and well-located asset in suburban Charlotte, where we believe we will continue to see outsized demand for high-end apartments,” said Robert Perry, Executive Managing Director of CBRE Global Investors.
“This particular asset performed well throughout the COVID-19 pandemic, in part due to its oversized layouts and boutique unit count. We are looking forward to the continued successful operation of the property by our team.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.
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| John Currin |
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management.
With more than 50 years as an alternatives investment manager, $145 billion in assets under management and more than 600 professionals (as of June 30, 2020), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds.
Operating from offices throughout the Americas, Europe and Asia Pacific, our 15 independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives.
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| Jeff Glenn |
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE: CBRE).
It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors.
CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans.
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| Robert Perry |
CONTACT:
Natalie
Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
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