Rise48 Equity Acquires 200-Unit Arrowood Crossing Multifamily In Charlotte For $31M From KE Andrews

The asset involved in this transaction is a 200-unit multifamily property located at 2109 Arrowcreek Drive in the Charlotte, NC market. The sale price for the Arrowood Crossing apartment complex was $31 million, which equates to a per unit price of $155,000. Rise48 Equity acquired the property from KE Andrews and secured a $14.88 million fixed-rate loan with a 3.95% coupon locked until September 2026.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,000,000
• Buyer: Rise48 Equity
• Seller: KE Andrews
• Units: 200
• Price Per Unit: $155,000
• Loan Amount: $14,880,000
• Loan Coupon Rate: 3.95%
• Loan Lock Period: Until September 2026

Key individuals involved in this transaction include the buyer, Rise48 Equity, and the seller, KE Andrews. They played pivotal roles in completing the sale of the Arrowood Crossing apartment complex, facilitating the transfer of ownership of this multifamily asset.