Ascent Housing Acquires Woodford Estates Multifamily Community In Charlotte For $30.2 Million
4630 Central Avenue
$30,200,000
Units
228
Asset Type
MultiFamily
Closing
Jun 5, 2025
AI
The multifamily asset involved in the transaction is the Woodford Estates community, located at 4630 Central Avenue, Charlotte, NC. It consists of 228 units, with a price per unit of $132,456, leading to a total sale price of $30,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,200,000
- Buyer: Ascent Housing
- Seller: Michael I. Katz - Dasmen Residential
- Units: 228
- PPU: $132,456
The transaction was facilitated with financing supported by Newmark, the city of Charlotte, and Mecklenburg County through three permanent loans, highlighting the collaborative effort in securing the required funding for this acquisition.
Players
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93