North Carolina

Amavi Sherrills Ford in Sherrills Ford, N.C.

Mill Creek Residential Opens Build-to-Rent Community in Sherrills Ford, North Carolina

by Channing Hamilton August 3, 2023

SHERRILLS FORD, N.C. — Mill Creek Residential has opened Amavi Sherrills Ford in Sherrils Ford, approximately 35 miles north of downtown Charlotte. The build-to-rent community offers 134 cottage-style units in two- and three-bedroom layouts. Units feature stainless steel appliances, pin lock entry systems, in-unit washers and dryers, hardwood-style flooring, quartz countertops and fenced-in yards. Amenities include a clubhouse, pool with a sundeck and cabana, a pet park and open green spaces. The first move-ins at Amavi Sherrills Ford are currently underway.

August 3, 2023

Finance News North Carolina People News Southeast

NewPoint Hires Mike Ortlip as Senior Managing Director

by Channing Hamilton July 21, 2023

CHARLOTTE, N.C. — NewPoint Real Estate Capital (NewPoint) has hired Mike Ortlip as senior managing director. In this role, Ortlip will provide financing solutions to commercial real estate owners on a national basis through NewPoint’s Agency, FHA/HUD, Proprietary and third-party loan programs. Ortlip is a member of NMHC, the Mortgage Bankers Association, ICSC and ULI. He will be headquartered in Charlotte. Prior to joining NewPoint, Ortlip most recently served as senior vice president at Grandbridge Real Estate Capital.

July 21, 2023

Development News North Carolina Southeast

Greystar Breaks Ground on Laurent in Charlotte, North Carolina

by Channing Hamilton June 28, 2023

CHARLOTTE, N.C. — Greystar has broken ground on Laurent, a community located within the Rea Farms suburban center in Charlotte. Rea Farms features over 250,000 square feet of retail space. Laurent will bring 305 rental units to the center, including studio, one-, two- and three-bedroom apartments, as well as townhome-style units. The parcel was initially zoned for office space. Greystar, in cooperation with Lincoln Harris, rezoned the site to include apartments. Laurent is slated for completion in early 2025, with pre-leasing to begin in the second half of 2024.

June 28, 2023

Development News North Carolina Southeast

Alliance Residential Opens Prose New Hope in Raleigh, North Carolina

by Channing Hamilton June 27, 2023

RALEIGH, N.C. — Alliance Residential Co. has opened Prose New Hope, a 344-unit community in northeast Raleigh. Prose New Hope offers one- and two-bedroom units with features such as granite countertops, stainless steel appliances, chrome plumbing fixtures and plank flooring. Amenities include a clubroom with an entertainment kitchen, pool with two outdoor grill stations, business center, fitness center and package lockers. The design team for the project includes architect Cline Design Associates and engineer McAdams, both locally based.

June 27, 2023

Investment Sales News North Carolina Southeast

Carter Exchange Sells Station at Poplar Tent in Concord, North Carolina

by Channing Hamilton June 6, 2023

CONCORD, N.C. — Carter Exchange Fund Management Co. has sold Station at Poplar Tent, a garden-style community in the Charlotte, North Carolina suburb of Concord, for $74.7 million. The buyer was not disclosed. Carter Exchange took ownership of the property in 2020. During the approximately 2.7-year hold period, the firm renovated unit interiors at the property with features such as smart home packages and updated flooring, as well as installed parcel lockers in the clubhouse. Station at Poplar Tent was 94.9 percent occupied at the time of sale.

June 6, 2023

Abberly Royal Creek in Fuquay-Varina, North Carolina

Development News North Carolina Southeast

HHHunt Breaks Ground On $62.7 Million Abberly Royal Creek Near Raleigh, North Carolina

by Channing Hamilton May 24, 2023

FUQUAY-VARINA, N.C. — HHHunt Corp. has broken ground on Abberly Royal Creek, a 250-unit community in the Raleigh, North Carolina suburb of Fuquay-Varina. Abberly Royal Creek will offer one-, two- and three-bedroom floor plans, as well as amenities such as a fitness center, a business lounge, a pool with a tanning shelf, dog park, pet spa and smart home technology from ADT Security in every unit. Each building will rise four stories. HHHunt’s investment in the project is expected to total $62.7 million.

May 24, 2023

A 3D render of The Kingsman, a contemporary-style building in Charlotte.

Development News North Carolina Southeast

RangeWater to Develop The Kingsman in Charlotte, North Carolina

by Channing Hamilton May 12, 2023

CHARLOTTE, N.C. — RangeWater Real Estate has closed on 3.8 acres to develop The Kingsman, a 350-unit community in Charlotte’s Lower South End neighborhood. The property will offer studio, one-, two- and three-bedroom floor plans ranging from 543 to 1,519 square feet. Community amenities will include a dog park with a spa, pool, clubroom, co-working space, a grilling area, a fitness center and a sky lounge. RangeWater will break ground on The Kingsman in May, with move-ins set to begin in April 2025.

May 12, 2023

Development News North Carolina Southeast

Crescent Communities Breaks Ground on Apartments in Research Triangle Master-Planned Development

by Lynn Peisner April 27, 2023

MORRISVILLE, N.C. — Crescent Communities broke ground in April on NOVEL Morrisville, a 336-unit project located in a master-planned development about 15 miles northwest of Raleigh, North Carolina. The site is across the street from Spark Life Science, an under-construction life sciences project, and adjacent to Apple’s upcoming Research Triangle campus. NOVEL Morrisville is slated for a summer 2024 completion. The unit mix includes one-, two- and three-bedroom floor plans. Amenities feature a pool, two-story fitness center, resident club room and arcade, a sports-bar-inspired lounge and coworking spaces. Partners for …

April 27, 2023

Development News North Carolina Southeast

RXR Secures Site for $3 Billion Mixed-Use Project in Research Triangle

by Lynn Peisner March 6, 2023

APEX, N.C. — RXR has acquired a 1,000-acre development site in Apex, about 15 miles west of Raleigh, North Carolina. The New York City-based developer will build a $3 billion mixed-use project called Veridea on the site. Development plans include the construction of a new 340,000-square-foot campus in partnership with Wake Technical Community College as well as a new elementary school. In the first phase, RXR will develop about 1,000 multifamily units, and Lennar will develop 1,100 townhomes and single-family homes. Phase I also will include about 750,000 square feet …

March 6, 2023

Affordable Housing Investment Sales North Carolina Southeast

Fairfield Buys Greens of Pine Glen in Durham, North Carolina

by Lynn Peisner February 20, 2023

DURHAM, N.C. — Fairfield has acquired Greens of Pine Glen apartments in Durham for an undisclosed price. The 168-unit affordable-housing property includes two- and three-bedroom units that rent for up to 60 percent of the area median income (AMI). With this transaction, Fairfield now owns 750 affordable units in the Raleigh-Durham area. San Diego-based Fairfield owns and/or operates 41,000 units nationwide.

February 20, 2023

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