GSL Properties Acquires Tryon Farms Apartments From LivCor In Charlotte For $58.8M

The transaction involved the acquisition of a multi-family asset located at 15120 Wylie Way in Charlotte, NC. GSL Properties purchased the 240-unit Tryon Farms Apartments from LivCor for $58.8 million, translating to approximately $245,000 per unit.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $58,800,000
• Units: 240
• Price Per Unit: $245,000
• Buyer: GSL Properties
• Seller: LivCor

GSL Properties has expanded its portfolio with this purchase from LivCor, which is affiliated with Blackstone. Notably, Blackstone acquired the property in 2021 for $54.5 million and has been active in the Charlotte market, recently acquiring a large Amazon distribution center in Pineville for $101.8 million.