LEO Impact Capital Acquires Multifamily Asset In Charlotte From Ginkgo Residential For $20.7M

The multifamily asset involved in this transaction is located at 2123 El Verano Circle in Charlotte, NC. It consists of 144 units, with a purchase price of $20,700,000, resulting in a price per unit of $143,750. This marks a significant addition to the local housing market, emphasizing the focus on multifamily residences.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,700,000
• Address: 2123 El Verano Circle
• Market: Charlotte, NC
• Units: 144
• Price Per Unit: $143,750
• Buyer: LEO Impact Capital
• Seller: Ginkgo Residential

LEO Impact Capital represents JBG Smith’s workforce-housing initiative and has acquired this property as part of its $150M LEO Impact Housing Fund, which aims to focus on unsubsidized, middle-income housing. This transaction is notable as it is the first deal for LEO Impact Capital outside of Washington D.C.