Sherman Residential Acquires 348-Unit Axis At The Park In Charlotte For $68 Million

The property asset involved in the transaction is a 348-unit multifamily complex located at 5200 Oxford Pond Drive in Charlotte, NC. The total transaction amount for the acquisition was $68 million, equating to a price per unit of $195,402.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $68,000,000
• Buyer: Sherman Residential
• Seller: Greystar
• Lender: Jackson National Life Insurance Company
• Units: 348
• PPU: $195,402

In this transaction, Sherman Residential acquired the Axis at the Park from Greystar. To facilitate the purchase, Sherman secured a five-year fixed-rate loan from Jackson National Life Insurance Company, amounting to $47.2 million.