Updated Jul 15, 2025
Ginkgo Residential Sells Weyland Apartments In Charlotte For $29.3 Million With Broker Kevin Kempf
2811 Marlowe Avenue
$29,300,000
Units
200
Asset Type
MultiFamily
Closing
Jul 14, 2025
About this deal
AI
The property asset involved in the transaction is a multifamily residential community located at 2811 Marlowe Avenue in Charlotte, NC. This community, known as Weyland Apartments, consists of 200 units and was sold for a price of $29,300,000, resulting in a price per unit of $146,500. The sale reflects the market trends in the Southeast, particularly in the multifamily sector.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $29,300,000
- Units: 200
- Price Per Unit: $146,500
- Seller: Ginkgo Residential
- Broker: Kevin Kempf - CBRE
- Sale Date: 07/14/2025
- Market: Charlotte, NC
Key individuals behind the deal include Ginkgo Residential, the seller who has made significant upgrades to the property since 2018. The broker representing the transaction is Kevin Kempf from CBRE, facilitating the sale in a market characterized by growth and strong investor demand for multifamily properties.
Players
Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $146.5K per unit across 200 units on a published $29.3M (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93