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| Andrea Howard |
CHARLOTTE, NC – JLL
Capital Markets announced it has closed the sale of Alexan
Optimist Park, a 238-unit luxury apartment community in Charlotte, North
Carolina.
JLL worked on behalf of the seller, Trammell Crow
Residential, to complete the sale.
Built in 2019 on 2.5 acres, Alexan Optimist Park is a midrise
apartment community consisting of studio, one- and two-bedroom units and
features sparkling quartz countertops, oversized kitchen islands, beverage
refrigerators, customizable closets, and stainless-steel appliances.
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| Alexan Optimist Park, 1009 N. Caldwell Street, Charlotte, NC |
Community amenities at the 95%-leased property include an
outdoor pavilion with grilling stations, a raised saltwater pool, coworking
spaces, fitness center equipped with a Peloton bikes, clubroom, and
pet-friendly social lounge.
 |
Robbie Brooks
|
Located at 1009 N. Caldwell St., Alexan Optimist Park
is positioned in a premier live-work-play environment in the heart of the Mill
District, a former textile manufacturing area that underwent a revitalization
to expand its urban footprint.
The community is just a few minutes from Uptown, Charlotte’s
downtown area employing over 116,000 people, NoDa, the city’s Historic Arts
District, and the trendy Optimist Hall, with over 20 food stalls.
Due to Charlotte’s recent office development boom, investors
have become increasingly interested in Uptown’s nearby up-and-coming
neighborhoods including the Mill District.
 |
| Allan Lynch |
The Mill District’s historic roots and cultural elements were
inspiration for the property’s unique design elements, including train station
notice boards, exposed brick walls, and graffiti murals painted by a local
artist, among other accents throughout common areas.
Additionally, the Mill District is known for its
entertainment scene, boasting diverse food and retail options.
TCR
recently announced the opening of a permanent regional office in Raleigh to
service the Carolinas, which will be led by Robbie Brooks, TCR’s current
Managing Director of the Mid-Atlantic Region.
Brooks
will transition from that role to focus full-time on sourcing and executing new
ground-up development opportunities for premier multifamily communities in the
Research Triangle and Charlotte submarkets, which are experiencing
unprecedented demand for Class-A apartments.
 |
Caylor Mark
|
The JLL Capital Markets team representing the
seller was led by Allan Lynch, Caylor Mark, Andrea Howard, Jeff Glenn and
John Currin.
“With Alexan Optimist Park, Trammell Crow
Residential’s delivery of custom-home finishes in a coveted location served as
both an outstanding investment opportunity and important catalyst in the Mill
District's exciting transformation,” said Mark.
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.
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.
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| Jeff Glenn |
About Trammell Crow Residential
Trammell Crow Residential (TCR) is a national multifamily
real estate developer with 11 regional offices.
For over 40 years,
Trammell Crow Residential has been developing premier, amenity-rich multifamily
communities and has delivered more than 250,000 residences in economically
thriving locations.
TCR, Crow Holdings Industrial (CHI) and Crow Holdings Office
(CHO) are the development platform of Crow Holdings, a privately owned real
estate investment and development firm with a 70-year history and a strong
track record of performance, partnership and innovation.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
 |
| John Currin |
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.
CONTACT:
Natalie Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
natalie.passarelli@am.jll.com
us.jll.com/investorservices
jll.com.
www.crowholdings.com/tcr
