Northwood Ravin Purchases Development Site On Providence Road In Charlotte For $29.2M From Levine Properties
5818 Providence Road
$29,200,000
Building Size
—
Asset Type
Development Site
Closing
Jan 7, 2026
AI
A development site located at 5818 Providence Road, Charlotte, NC, was involved in a transaction where 20.8 acres of undeveloped land were sold. The sale took place on January 7, 2026, with a total transaction amount of $29,200,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,200,000
- Buyer: Northwood Ravin
- Seller: Levine Properties
- Closing Date: January 7, 2026
- Market: Charlotte, NC
- Size: 20.8 acres
The transaction was facilitated by representatives from both parties. Northwood Ravin acquired the property from Levine Properties, marking a significant addition to their portfolio in the South Charlotte area.
Players
Charlotte Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93