A New York real estate investment trust has purchased the second phase of the Ashton Reserve apartment complex near Northlake Mall.
Bluerock Residential Growth REIT Inc. recently completed the acquisition of the second phase, which totals 151 units. The company paid $21.8 million, or $144,500 per unit, which Bluerock says compares favorably with pricing of $160,000 per unit for similar properties in the market.
In August, Bluerock purchased the first 322-unit phase of Ashton Reserve, located on…New York REIT purchases second phase of Northlake apartments for $21.8 million
A New York real estate investment trust has purchased the second phase of the Ashton Reserve apartment complex near Northlake Mall.
Bluerock Residential Growth REIT Inc. recently completed the acquisition of the second phase, which totals 151 units. The company paid $21.8 million, or $144,500 per unit, which Bluerock says compares favorably with pricing of $160,000 per unit for similar properties in the market.
In August, Bluerock purchased the first 322-unit phase of Ashton Reserve, located on…
Faison Enterprises has purchased a 5-acre site for $8.8 million in Optimist Park where the firm is planning a development with apartments and retail space.
The Charlotte real estate firm purchased the industrial property from the Wellmon family, which earlier this year won a transit-oriented, mixed-use zoning for 9 acres on the west side of North Davidson Street, along the Lynx Blue Line extension. The site is bounded by North Brevard Street, Charles Avenue, Matheson Avenue and Jordan Place.
Faison…
Crescent Communities plans to break ground on its Stonewall Station project in uptown Charlotte in early January. The company has scheduled a Jan. 6 groundbreaking ceremony for the mixed-use development, which will be anchored by a Whole Foods Market and will also include approximately 450 apartment units, two hotels and additional retail space.
In November, the Charlotte real estate firm closed on its purchase of a 3.6-acre site at the intersection of East Stonewall and South Caldwell streets,…
When it comes to apartment design, David Ravin believes the market will soon begin rewarding those projects that have made the extra effort.
Ravin is CEO of development firm Northwood Ravin, which is under contract to purchase a 3.76-acre city-owned site at the intersection of Caldwell and Stonewall streets. The city has said Northwood Ravin is planning a project up to eight-stories tall that will feature 400 apartment units and 50,000 square feet of office and retail space.
The sale is expected…
Camden Property Trust is planning a 28-unit rental townhome community for a 2-acre city-owned parcel between South Boulevard, East Morehead Street and Interstate 277.
The site is adjacent to the company’s Camden Grandview apartment complex and would utilize Grandview’s existing amenities, according to real estate records. The townhome development would be accessed from South Boulevard, and Camden is planning roadway improvements including a turn lane and a new driveway.
The property is one…
New York Life Real Estate Investors has purchased an 11-building portfolio at Water Ridge Office Park off West Tyvola Road for $115 million.
Mainstreet Capital Partners and Goldman Sachs Group Inc. listed the portfolio for sale this spring. The buildings at Water Ridge, formerly known as LakePointe Office Park, total 844,958 square feet and are 82% occupied by tenants that include The Vanguard Group, SunTrust Banks Inc., Carolinas HealthCare System, Publix Super Markets and Midrex Technologies Inc.
Built…
Bank of America Corp. has signed a 10-year lease renewal for its space at Gateway Village but appears to be downsizing a bit at the uptown Charlotte property.
Cousins Properties Inc., the Atlanta-based real estate investment trust that owns the 1.1-million square-foot property with the bank, announced today that BofA has signed a renewal for 922,684 square feet. The company had previously leased the entire property in a deal that was set to expire at the end of 2016.
“I’m delighted to announce…
A real estate investment trust managed by KBS has agreed to purchase the Carillon office tower in uptown Charlotte, according to a securities filing.
The real estate investment trust, which is managed by KBS Capital Advisors, has agreed to buy the 476,308-square-foot building through a subsidiary for $147 million, according to the filing. The building, located at 227 West Trade Street, is owned by real estate firm Hines, which sold the Charlotte Plaza building earlier this year for $160 million.
KBS…
Lincoln Property Company has purchased the 121 West Trade Street building in uptown Charlotte for $71.6 million.
Lincoln purchased the 32-story office tower, located at the intersection of Trade and Tryon streets, on behalf on an Illinois pension fund client. The seller of the building, The Dilweg Cos., acquired the building two years ago for $59.6 million.
“We have seen a recent surge of leasing activity at the building, underscoring the vibrancy of the uptown market, and we felt this was a…
MetLife Inc., the largest tenant at Ballantyne, is now also a major lender to the south Charlotte office park.
The Bissell Cos. has secured financing from MetLife Inc. for 2.5 million square feet of office space and two hotels at Ballantyne Corporate Park.
MetLife provided Bissell with $345.6 million in non-recourse, long-term fixed rate debt for the properties, which did not include MetLife’s two buildings at the park. MetLife opened the headquarters for its U.S. retail business at Ballantyne…