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| Andrea Howard |
CHARLOTTE, NC – JLL Capital Markets announced it has handled the sale of Centro Railyard, a 2020-vintage, 91-unit luxury multi-housing property with 12,991 square feet of innovative “micro” ground floor retail, in Charlotte, North Carolina’s booming South End submarket.
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| Allan Lynch |
JLL represented the seller, a partnership between Ascent Real Estate Capital and Centro Cityworks, in completing the sale to the buyer, Collett Capital. The partnership also designed and built the property.
Centro Railyard is a mixed-use asset
compromised of 91 luxury apartments and “micro” ground floor retail,
featuring a variety of versatile, omni-channel retailers along the
pedestrian-friendly Winnifred Street corridor.
Apartment units include studio, one- and
two-bedroom floorplan options with dazzling white granite countertops,
honeycomb backsplashes, oversized windows, 10’ to 18’ ceilings, stainless steel
appliances and high-tech capabilities, such as keyless entry and smart locks.
Community amenities include a sky lounge with
remarkable city views and an interior corridor linked to the ground floor
retail space.
Located at 1425 Winnifred St., Centro
Railyard is connected to The Railyard, a mixed-use project consisting of
various office and retail tenants.
Centro
Railyard sits at the heart of the vibrant South End neighborhood, where
residents can easily walk to a variety of local restaurants, established
breweries, and eclectic retailers.
 |
| Caylor Mark |
Moreover, South End is experiencing an office boom with more than 2.1 million square feet of office space currently under construction in the area, including Lowe’s Technology Headquarters and LendingTree’s Headquarters.
Unsurprisingly,
the area is a young professional hotspot, whose residents are well-educated
(68% have earned college degrees), high-earning ($86.5k median income) and most
likely to rent (80% of homes are rented).
The JLL Capital Markets team representing
the seller was led by Allan Lynch, Caylor Mark, Tom Kolarczyk, Andrea
Howard, John Currin and Jeff Glenn.
“Award winning in design, innovative in
concept, and coveted in location, Centro Railyard resonated with investors
on many levels,” Lynch said.
“Further showcasing the project’s
permanence and growth potential, this unique asset leased up completely in just
a few months, all while withstanding the Covid-19 pandemic,” Mark added.
JLL Capital Markets is a full-service global provider
of capital solutions for real estate investors and occupiers.
 |
| Tom Kolarczyk, |
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.
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 Ascent Real Estate Capital
Ascent Capital is an
entrepreneurial real estate investment company headquartered in Charlotte,
North Carolina.
Its partners are experienced in sourcing, capitalizing,
operating and managing real estate investments across all major property types.
 |
| John Currin |
Ascent leverages over 60 years of commercial real estate
experience to generate creative solutions that combine attractive investment
opportunities with positive community outcomes.
For more information on the company, please visit: ascentrealestatecapital.com
About
Collett Capital
Based in Charlotte, North
Carolina, Collett Capital is a real estate private equity firm with over $280
million in assets under management.
The firm is focused on acquiring well-located, income producing real estate assets with durable cash flows and upside potential.
Through its real estate funds, the firm acts as a sponsor, operating partner
and co-investor alongside its institutional and private capital partners.
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
 |
| Jeff Glenn |
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL
is a Fortune 500 company with annual revenue of $18.0 billion, operations in
over 80 countries and a global workforce of over 92,000 as of September 30,
2020.
JLL
is the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated. For further information, please visit jll.com.
Contact:
Natalie
Passarelli
JLL Senior Associate
Public Relations
Phone: +1 224 477 7307
Email: Natalie.Passarelli@am.jll.com
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