9/20/2007

Charlotte multi-family brings $15.75 million

by
Crown Ridge Partners LLC, an entity of Asset Development Group, has acquired a 240-unit apartment complex in Charlotte, N.C., for $15.75 million from Crown Ridge Acquisition Co. LLC, an entity of Orion Realty Advisors.

Jim Jarrell of Cushman & Wakefield's Georgia office represented the seller. The buyer had no outside representation.

The apartment complex contains 12 buildings on 13.96 acres. Built in 1971, it's located at 5924-5929 Regal Estate Lane and consists of 76 one-bedroom, 136 two-bedroom and 28 three-bedroom units.

Orion Realty Advisors is a real estate management firm headquartered in Dallas, Texas.

Address: 5924-5929 Regal Estate Lane, Charlotte, N.C.

Size: 283,934

Built: 1971

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Filed Under: Multi-Family

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