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SemREF Acquires 290-Unit Alexan Mill District Multifamily Property In Charlotte From Trammell Crow Residential For $82M

Property Image
SOLD
$82,000,000
John Currin
Jeff Glenn
Caylor Mark
+ 3

North Carolina

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MultiFamily
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SOLD

SemREF Acquires 290-Unit Alexan Mill District Multifamily Property In Charlotte From Trammell Crow Residential For $82M

1001 North Brevard Street

See Similar Deals
MultiFamily
Sold
John Currin
Jeff Glenn
Caylor Mark
+ 3
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property at 1001 North Brevard Street in Charlotte, NC, spans 4.2 acres and consists of 290 residential units. The asset was sold for $82,000,000, translating to a price per unit of approximately $282,759.

Summary of transaction details:

The transaction involved the sale of the 290-unit Alexan Mill District, representing a significant acquisition by the buyer, SemREF, which is the real estate fund of the Seminole Tribe of Florida. The brokers facilitating this transaction were affiliated with Northmarq.

Players

Andrea Howard
NorthMarq
Andrea Howard
12 deals$1.5B volume
BROKER
Allan Lynch
NorthMarq
Allan Lynch
9 deals$1.4B volume
BROKER
Austin Jackson
NorthMarq
Austin Jackson
9 deals$1.2B volume
BROKER
John Currin
NorthMarq
John Currin
10 deals$677.6M volume
BROKER
Caylor Mark
NorthMarq
Caylor Mark
6 deals$436.1M volume
BROKER
Jeff Glenn
NorthMarq
Jeff Glenn
8 deals$548.8M volume
BROKER
NorthMarq
NorthMarq
BROKERAGE
TR
Trammell Crow Residential
SELLER

Details

SOLD
IMAGE: 08/22/2025 ADDRESS: 1001 North Brevard Street MARKET: Charlotte, NC ASSET TYPE: Multifamily ~ ACRES: 4.2 BUYER: SemREF SELLER: Trammell Crow Residential BROKERS: Allan Lynch, Caylor Mark, Andrea Howard, John Currin, Jeff Glenn & Austin Jackson - Northmarq SALE PRICE: $82,000,000 UNITS: 290 ~ PPU: $282,759 NOTE: Trammell Crow Residential sold the 290-unit Alexan Mill District in Charlotte to the Seminole Tribe of Florida’s real estate fund (SemREF) for $82M, or nearly $283K per unit.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$291,328.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$388,721.83
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