Search
 

Transwestern Investment Acquires 1,200 Units in Charlotte

CHARLOTTE, NC-The Chicago-based commercial real estate investment firm acquires three local multifamily properties from a corporate client of Rreef.

By Brian K. Miller | Updated on January 10, 2005

CHARLOTTE, NC-Transwestern Investment Co. LLC of Chicago has acquired 1,226 multifamily units here in three separate projects. The seller was a corporate client of Rreef, a division of DB Real Estate. The properties include Waterford Lakes (694 units; 8000 Waterford Lakes Dr.), Woodway Point (392 units; 2100 Woodway Hills) and Reserve at Waterford lakes (140 units; 8725 Kody Marie Ct.). All three properties were built in the 1990s. The sales were brokered by Apartment Realty Advisors (ARA) Mid-Atlantic.ARA did not release the sale price for the properties and a Transwestern spokesperson was not immediately available Monday for comment. However, ARA brokered two other Charlotte apartment sales in December for which the sale prices were available. The Lodge at Springs Farm, a 316-unit community at 330 Open Field Lane sold for $27.5 million or $87,025 per unit, and the 282-unit Crestmont at Ballantyne at 9200 Otter Creek Dr. sold for $26.7 million or $94.858 per unit. The seller of the Lodge at Springs Farm was Hanover Cos. and the new owner is Weinstein Management Co. The seller of Crestmont at Ballantyne was the Crosland Group and the new owner is the Goldberg Cos. Inc.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.