J&S Realty LLC And Sandee Road Ventures Acquire 60-Unit Affordable Housing Complex In Charlotte For $8.4M

Ariel Property Advisors' Capital Services Group facilitated a joint venture for the $8.4 million acquisition of a 60-unit, 65,000-square-foot affordable housing complex located at 7204 Rose Terrace Court in Charlotte, NC. The multifamily property offers 60 units and spans approximately 65,000 square feet. The acquisition was made by J&S Realty LLC and Sandee Road Ventures, who serve as the sponsors of the transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,450,000
• Square Footage: 65,000 SF
• Number of Units: 60
• Market: Charlotte, NC

The loan for the acquisition was provided by Greystone, a reputable lender in the real estate industry. Additionally, Ariel Property Advisors' brokers, Matt Dzbanek and Matt Swerdlow, from their Capital Services Group, played a crucial role in securing financing for the deal. They worked with other parties involved, including a New York City-based nonprofit and Fannie Mae, to secure a total loan amount of $8.4 million. The loan type for this transaction was an acquisition loan.