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2520 North Brevard Street C...

Northpond Partners Acquires Mixed-Use Property In Charlotte, NC For $12.5M
SOLDMultiFamily

Northpond Partners Acquires Mixed-Use Property In Charlotte, NC For $12.5M

2520 North Brevard Street Charlotte, North Carolina 28205, USA

$12,500,000

Building Size

Asset Type

MultiFamily

Closing

Jun 8, 2023

AI

A mixed-use property located at 2520 North Brevard Street in Charlotte, NC, has been sold for a price of $12,500,000. The transaction took place on 07/08/2023. The property is a versatile asset that offers both residential and commercial spaces, catering to a variety of needs in the market.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $12,500,000
  • Address: 2520 North Brevard Street, Charlotte, NC
  • Market: Charlotte, NC

The buyer of the property is Northpond Partners, while the seller is White Point Partners. Stream Realty represented the buyer in the transaction, providing expert guidance and representation. On the other hand, Jared Londry from Point Blank Ventures served as the seller's representative, facilitating the deal with professionalism and expertise.

This particular transaction showcases the collaborative efforts of various individuals and companies involved in the real estate industry. Each party played a crucial role in ensuring the successful completion of the deal, contributing their knowledge and expertise to navigate the intricacies of the transaction.

Players

Jared Londry

Stream Realty Partners⁠

Broker

$55.7M

vol

3 deals

Broker
NP
Northpond PartnersBuyer

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

1.27%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93