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322 Clarence Street

Aquila Acquires Thompson Place Apartments In Charlotte Multifamily Sale
SOLDMultiFamily

Aquila Acquires Thompson Place Apartments In Charlotte Multifamily Sale

322 Clarence Street

$8,350,000

Building Size

Asset Type

MultiFamily

Closing

Aug 14, 2023

AI

The multifamily property known as Thompson Place Apartments in Charlotte, NC has been sold for $8.35 million. The apartment community, located on the city's west side, was purchased by Aquila Multifamily from Lucern Capital Partners. The property consists of 65 units and the per unit price comes out to $128,462.

Summary of Transaction Details

  • Property Type: Multifamily
  • Sale Price: $8,350,000
  • Address: 322 Clarence Street, Charlotte, NC
  • Market: Charlotte, NC
  • Buyer: Aquila Multifamily
  • Seller: Frank Forte, Mark Callazzo & David Hansel - Lucern Capital Partners

Aquila Multifamily has successfully acquired the Thompson Place Apartments in Charlotte. The sale was made from Lucern Capital Partners for a total of $8.35 million. This multifamily property, located on the west side of the city, offers 65 units at a price of $128,462 per unit.

Players

Frank Forte

Lucern Capital

Seller

$85.7M

vol

8 deals

Seller

Clarence 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

1.90%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93