Updated Dec 4, 2024
S2 Capital Acquires Timber Creek Apartment Homes In Charlotte For $49M
1100 Falls Creek Lane
$49,000,000
Units
352
Asset Type
MultiFamily
Closing
Dec 15, 2023
About this deal
AI
S2 Capital has acquired Timber Creek Apartment Homes, a 352-unit multifamily property located at 1100 Falls Creek Lane in Charlotte, North Carolina. The property was purchased from Highland Capital Management for a total price of $49 million, which equates to approximately $139,205 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,000,000
- Address: 1100 Falls Creek Lane, Charlotte, NC
- Market: Charlotte, NC
- Buyer: Scott Everett - S2 Capital
- Seller: James Dondero - Highland Capital Management
- Units: 352
- Price Per Unit: $139,205
The acquisition of Timber Creek Apartment Homes by S2 Capital represents a significant investment in the multifamily market in Charlotte, North Carolina. This transaction highlights the continued interest and opportunities in the local real estate market.
On the Map
$49,000,000
MultiFamily
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Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93