Tishman Speyer Acquires 296-Unit Multifamily Community In Charlotte From Berkshire Residential

The transaction involved a multifamily asset located at 1351 East Morehead Street in Charlotte, North Carolina. The property consists of 296 units and was built in 2016. It is currently 97% leased and is traded through Tishman Speyer’s TS Plus Core Plus Fund.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Address: 1351 East Morehead Street
• Market: Charlotte, NC
• Units: 296
• Buyer: Rob Speyer - Tishman Speyer
• Seller: David Olney - Berkshire Residential Investments
• Brokers: John Heimburger, Dean Smith & Sean Wood - Newmark

This deal represents Tishman Speyer's first acquisition in Charlotte and includes plans for targeted amenity, exterior, and unit upgrades at the property. Newmark's brokerage team of John Heimburger, Dean Smith, and Sean Wood represented the seller, Berkshire Residential Investments, in the transaction.