News
APARTMENT INVESTORS SWEEP THROUGH
January 23, 2012
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| With apartment occupancy in Charlotte near capacity, existing multifamily properties are proving irresistible to investors, market watcher Real Data?s Engle Addington tells us. In just the past few weeks, national buyers have picked up three Charlotte complexes, deeds show. Chicago-based Westdale Investment Partners just bought the 210-unit Galleria Village Apartments for $18.5M from Charlotte-based Charter Properties. Atlanta-based Cortland Partners made its debut in Charlotte with two buys: The company bought Cameron at Hickory Grove, a 202-unit apartment community at Keyway Boulevard for about $7.5M; and it acquired the 178-unit Delta Crossing, a garden-style community on 23 acres at Delta Crossing Lane. That property sold for $7.3M. |
