Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged the sale of W Flats, a 247-unit apartment community located in Charlotte, North Carolina. Marc Robinson, Jordan McCarley, and Watson Bryant of Cushman & Wakefield represented the seller, Atlanta-based Mesa Capital Partners, in the transaction. LIV acquired the property.
“Charlotte’s growth continues to foster a competitive platform for well-located assets within the metro area,” said McCarley. “W Flats provides the buyer a strategic investment as the asset is positioned to capitalize on Independence Boulevard’s redevelopment and the corridor’s direct access to the region’s largest employment hub – Uptown.”
W Flats, built in 1986, is uniquely positioned along Charlotte’s next light rail route, which will provide direct access to Uptown. The previous ownership invested $1.3 million in capital improvements, focusing on community amenities, exterior and landscaping, as well as interiors upgrades. The new and upgraded amenities include a new dog park and fitness center, as well as a remodeled clubhouse and swimming pool.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group has closed $2.0 billion in sales volume in 2017, totaling over 130 deals and more than 25,000 units. On average, the team has experienced 63 percent sales growth within the last five years. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.