ASHEVILLE, N.C. — Delray Ventures has selected RKW Residential to manage two of its properties in Asheville, The Patton and The Avery. The Patton is a 117-unit, four-story community Delray developed in 2017. It offers units ranging from studios to two-bedroom floor plans. About two blocks away is The Avery, a 187-unit property Delray completed earlier this year. The community also features studio, one, and two-bedroom floor plans.
CHARLOTTE, N.C. — Vertex Investments has acquired Flats at 87Ten, a 96-unit property in Charlotte’s University City neighborhood, from Lucern Capital Partners for $9.7 million. Northmarq’s Ron Corrao, Eric Liebich, Matt Weinstein and Dane Lozier arranged the sale, representing the seller in the deal. The asset was originally developed in 2000 as a TownePlace Suites extended stay hotel and was redeveloped, by Lucern, as multifamily in 2023.
GREENSBORO, N.C. — Sarah C. Young will replace John Tomlinson as chief financial officer (CFO) of Bell Partners, a Greensboro-based investment and property management company. The transition will be effective upon Tomlinson’s retirement, which begins Aug. 22. Young will report to Chief Executive Officer Lili Dunn. After his retirement, Tomlinson will remain as an advisor to the company through the end of 2025. Young previously served as CFO and senior managing director at Quarterra Group, a subsidiary of Lennar, where she worked for 10 years managing financial operations and strategic …
CALABASH, N.C. — General contractor Capstone Building Corp. has completed building Heartsease at Calabash, a $40 million build-to-rent (BTR) project developed by EYC Cos. The development includes 158 cottages on 40 acres. The floor plans are offered as duplexes with one or two bedrooms or standalone homes with one, two or three bedrooms. Calabash is about 25 miles north of Myrtle Beach. Units feature 10‑foot ceilings, private porches and yards, garages or carports, laundry rooms with washers and dryers and valet trash service. Amenities include a clubhouse with full kitchen, …
ASHEVILLE, N.C. — Berkadia has arranged the sale of and financing for Highline North, a 168-unit, garden-style property in Asheville. South Carolina-based Graycliff Capital acquired the asset from North Carolina-based Carlisle Residential Properties for approximately $43.8 million. Berkadia Senior Managing Director Caleb Troop, Director Thomas Colaiezzi and Associate Director Matt Robertson of Berkadia Charlotte led the sale on behalf of the seller. Directors Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing through Freddie Mac on behalf of Graycliff. The deal closed on May 15. Located at …
INDIAN TRAIL, N.C. —Berkadia has arranged the sale of Poplin Trace in Indian Trail, a city about 15 miles southeast of Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reported the asset traded for $31 million. The seller was Arizona-based Belleview. The buyer was not disclosed. As of the date of sale, which was April 22, the property was 93 percent occupied. Poplin Trace offers 99 units, all as three-bedroom townhomes with attached two-car garages. The townhome, build-to-rent community was developed in 2021. Managing Director Caleb …
Charlotte, N.C. — RKW Residential has been selected to manage three metro Charlotte properties totaling 925 units. The new communities include Bond on Mint, a 393-unit luxury high-rise developed by Kayne Capital; Frazier at Mallard Creek, a 295-unit property from Delray Ventures; and Novel Davidson, a 237-unit property developed by Crescent Communities.
CHARLOTTE, N.C. — Mill Creek Residential has begun pre-leasing at Modera Liberty Row, a 239-unit community in the SouthPark neighborhood of Charlotte. The community is located at 7740 Liberty Row Drive on The Loop. Units come in studio, one-, two- and three-bedroom layouts. The average unit size is 1,100 square feet. The first move-ins are slated for June. Modera Liberty Row will offer amenities such as a pool, fitness center with a yoga studio, multiple clubrooms, four elevated courtyards, game room, golf simulator lounge, bocce ball courts, coworking spaces and …
The single-family rental (SFR) market, including purpose-built build-to-rent (BTR) communities, is the fastest-growing segment of the U.S. housing market, outpacing both single-family for-sale and multifamily growth in recent years. Although the concept emerged from the Great Recession, when large investors began buying up vacant homes to rent, it has evolved significantly over the past five years, attracting more sophisticated investors and expanding into new markets. Historically, Sun Belt markets, particularly Phoenix, were early adopters of BTR. Recently, however, areas like the Carolinas, Northern Virginia and even Boston have seen a …
RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a 20-story high-rise development in the North Hills district of Midtown Raleigh. The apartment tower will feature 362 apartments and 9,000 square feet of retail space. The Strand will consist of studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The property will also feature an amenity deck on the sixth floor that will include a pool, grilling area, activity lawn, fitness center and clubroom, as well as a clubroom on the 18th floor and a …
