Daily limit: 0/10
Cortland Partners Acquires Spectrum South End Apartments In Charlotte, NC For $104M
SOLD
$104,000,000
North Carolina
See Similar DealsMultiFamily
Sold 09/29/2023
SOLD
Cortland Partners Acquires Spectrum South End Apartments In Charlotte, NC For $104M
2225 Hawkins Street
See Similar DealsMultiFamily
Sold 09/29/2023
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The Spectrum South End Apartments, a 331-unit multifamily property located at 2225 Hawkins Street in Charlotte, North Carolina, has been acquired by Cortland Partners for $104 million. The property was sold by Cathy Marcus & Raimondo Amabile, represented by PGIM Real Estate. The sale price equates to an average price per unit of $314,199.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $104,000,000
- Address: 2225 Hawkins Street
- Market: Charlotte, NC
- Buyer: Cortland Partners
- Seller: Cathy Marcus & Raimondo Amabile - PGIM Real Estate
- Units: 331
- Price Per Unit: $314,199
Cortland Partners has successfully acquired the Spectrum South End Apartments in Charlotte, North Carolina. The transaction, worth $104 million, marks a significant investment in the multifamily market. The buyer, Cortland Partners, and the seller, Cathy Marcus & Raimondo Amabile represented by PGIM Real Estate, played key roles in the successful completion of the deal.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$369,490.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,013.06
Annual Debt Service$5,916,156.70
Is there something missing? Send suggestions