Matthew A. Sharp & J. David Kelsey Of Hamilton Point Investments Acquire Multifamily Community In Charlotte For $56.75M

The property asset involved in this transaction is a 294-unit multifamily community known as Pavillion Village, located at 131 Gracyn Olivia Drive in Charlotte, NC. The community was sold for $56,750,000 and is situated on 26 acres, with each unit averaging 910 square feet. The property has been constructed in 2015 and is currently 96% leased, featuring amenities such as a clubhouse, resort-style pool, fitness center, business center, and dog park.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,750,000
• Units: 294
• Price per Unit: $193,027
• Buyer: Matthew A. Sharp & J. David Kelsey - Hamilton Point Investments LLC
• Seller: Stephen Quazzo - Pearlmark; BCAP Properties
• Brokers: John Gavigan, John Mikels, Ben Bury, Chase Monroe & McCullough Campbell - JLL

JLL Capital Markets facilitated the sale of Pavillion Village, representing the sellers Pearlmark and BCAP Properties while procuring the buyer Hamilton Point Investments. The transaction reflects the strength of the multifamily sector in the Northeast Charlotte market.