Robert Schwartz And Zachary Neugut Of Spruce Properties Acquire Multifamily Asset In Concord For $68.75M

The property asset involved in this transaction is a multifamily building located at 50 Fenway Pl SW in Concord, NC. The sale price for this property was $68,750,000, which includes a total of 300 units. The building encompasses a square footage of 307,632, resulting in a price per unit of $229,166 and a price per square foot of $223.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,750,000
• Units: 300
• Square Footage: 307,632
• Price Per Unit: $229,166
• Price Per Square Foot: $223
• Buyer: Robert Schwartz & Zachary Neugut - Spruce Properties
• Seller: Evolve Companies
• Brokers: Caleb Troop, Thomas Colaiezzi, Matt Robertson & Laura Beaton - Berkadia

This transaction includes representatives from Spruce Properties, which is focused on acquiring high-quality, Class-A multifamily assets across North Carolina and other Sunbelt markets. The brokers involved are from Berkadia, facilitating the details of the transaction.