CHARLOTTE, N.C. — Tishman Speyer has acquired Berkshire Dilworth, a 296-community in Charlotte. The purchase was completed with equity from a core-plus fund. The seller was Berkshire Residential. This marks the seventh acquisition by TS Plus fund which has raised $973 million to date. Previous fund acquisitions include industrial properties in Northern California and South Florida, as well as residential communities in Chicago, Dallas, Raleigh, North Carolina and Montclair, New Jersey. The Charlotte Business Journal reports the sale price was $76.3 million.
The property was completed in 2016 and currently is 97 percent leased. Units are offered in studios, one- and two-bedroom floor plans situated above 3,000 square feet of street-level retail. It is located at 1351 E. Morehead St. in Charlotte’s Midtown-Dilworth district. Newmark’s John Heimburger, Dean Smith and Sean Wood represented the seller in the transaction.