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PRESS RELEASE: Multi Housing Advisors Brokers Sales of Six North Carolina Apartment Communities for a Total of $34.3 Million

CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has brokered the sales of six North Carolina apartment communities totaling 1,261 units. The properties sold for a total of $34.3 million.

Marc Robinson and Jordan McCarley of MHA’s Charlotte office represented the sellers in all six transactions. The buyers were not represented by brokers.

“These recent transactions demonstrate that the multifamily market continues to recover with greater numbers of investors seeking value-add opportunities,” McCarley said.

The sales included:

• The 220-unit Beacon Eastchase, located at 1600 Chasewood Dr. in Charlotte. Eller Capital Partners purchased the value-add property for $8.3 million.

• The 109-unit Lemans at Lawndale, located at 2005 W. Cone Blvd. in Greensboro, N.C. SBV Communities acquired the Class C property for $2.7 million.

• The 106-unit Lexington Commons, located at 2316 Golden Gate Dr. in Greensboro. SBV Communities purchased the Class C property for $3.4 million.

• The 180-unit Fox Run, located at 301 West Vandalia Rd. in Greensboro. Richard Anderson acquired the property for $4 million.

• The 454-unit The Park, located at 2332 Dunlavin Way in Charlotte. Northland Investment Corp. sold the property to FMM for $12.3 million.

• The 192-unit Hanover Landing, located at 5920 Monroe Rd. in Charlotte. Ellington Management Group acquired the property for $3.6 million.

 “Our Charlotte office continues to gain market share and momentum in the Carolinas as we serve our expanding client base,” said Robinson.
MHA recently expanded its Charlotte office and intends to open additional offices in the South. The firm has made a number of significant new hires over the past year as well, adding experienced brokers to expand its geographic reach and to take advantage of the increasing volume of multifamily investment sales.

About Multi Housing Advisors:

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast. Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.

MHA enjoys a total sales transaction volume that has surpassed $2.3 billion, representing more than 72,000 units and more than 450 individual transactions. MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.

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For More Information, Contact:
Stephen Ursery
The Wilbert Group
404-965-5026 (O) 404-405-2354 (C)
[email protected]

TAGS: Investment