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Mid-America Apartments Acquires Alta Filament In $107M Multifamily Sale

Property Image
SOLD
$107,000,000

North Carolina

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MultiFamily
Sold 12/04/2023
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Property Image
SOLD

Mid-America Apartments Acquires Alta Filament In $107M Multifamily Sale

525 East 21st Street

See Similar Deals
MultiFamily
Sold 12/04/2023
the dealplayerscompscontact
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

Alta Filament, a 352-unit luxury multifamily property in Charlotte's Mill District neighborhood, has been sold for $107 million. The property, located at 525 East 21st Street, was acquired by Mid-America Apartments from Wood Partners. The sale was brokered by Allan Lynch from NorthMarq.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $107,000,000
  • Units: 352
  • Price Per Unit: $303,977
  • Buyer: Mid-America Apartments
  • Seller: Wood Partners
  • Broker: Allan Lynch - NorthMarq
  • Market: Charlotte, NC

A team led by Allan Lynch from NorthMarq facilitated the sale of Alta Filament. The property presents a lucrative investment opportunity in the thriving Mill District neighborhood of Charlotte. The transaction not only represents a significant financial investment but also highlights the continued demand for luxury multifamily properties in the area.

Players

Allan Lynch
NorthMarq
Allan Lynch
9 deals$1.4B volume
BROKER
Wood Partners
Wood Partners
SELLER

Details

SOLD
IMAGE: Allan Lynch DATE: 12/04/2023 ADDRESS: 525 East 21st Street MARKET: Charlotte, NC ASSET TYPE: Multifamily BUYER: Mid-America Apartments SELLER: Wood Partners BROKER: Allan Lynch (@Allan_Lynch) - NorthMarq (@Northmarq) SALE PRICE: $107,000,000 UNITS: 352 ~ PPU: $303,977 NOTE: A team led by Allan Lynch from Northmarq brokered the $107 million sale of Alta Filament, a 352-unit luxury multifamily property in Charlotte's Mill District neighborhood.

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Debt Service Coverage Ratio (DSCR)

0.94x

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