White Point Partners Sells 202-Unit Tryon Park at Rivergate for $162,000 Per Unit
Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged the $32.7 million sale of Tryon Park at Rivergate, a 202-unit apartment community located in Charlotte, North Carolina. Jordan McCarley, Marc Robinson and Watson Bryant represented the seller, Charlotte-based White Point Partners, in the transaction. Chaucer Creek Capital of Raleigh, NC, acquired the property.
“Southwest Charlotte, particularly Steele Creek, is a booming submarket with outstanding job growth and attractive fundamentals,” McCarley said. “Tryon Park at Rivergate is an exceptional core-plus asset, situated in Charlotte’s fastest-growing submarket and within close proximity to an abundance of popular retail.”
Tryon Park at Rivergate features striking Craftsman facades, state-of-the-art amenities and modern, open floor plans. Upscale amenities include a business center with iMacs, saltwater swimming pool, 24-hour fitness center with yoga/Pilates studio, car care center, bark park, grilling stations with outdoor fire pit, and detached garages.
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 $3.8 billion in sales volume in 2017, totaling over 220 deals and more than 44,000 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.
