Penzance Acquires Presley Oaks Multifamily In Charlotte For $65 Million From American Landmark Apartments

The asset involved in the transaction is a 318-unit apartment complex located at 4915 Misty Oaks Drive in Charlotte, NC. The property was sold for $65 million, equating to approximately $204,403 per unit. This multi-family property consists of 19 buildings and was constructed in 1996. It offers various amenities, including a pool, fitness center, dog park, and residents' lounge.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $65,000,000
• Units: 318
• Price Per Unit: $204,403
• Buyer: Penzance
• Seller: American Landmark Apartments
• Market: Charlotte, NC

In this transaction, Penzance acquired the property from American Landmark Apartments, representing a significant move in the Charlotte real estate market.