Greystar, Sterling Equities Swap Ownership of 33-Story Charlotte Multifamily

Greystar, a Charleston, SC-based real estate and property management company, has sold Ascent Uptown. The 300-unit, 33-story multifamily property (built in 2017) is located at 225 S. Poplar Street in Charlotte, NC. Great Neck, NY-based real estate operating company Sterling Equities acquired the property.

Allan Lynch, Andrea Howard, Caylor Mark, John Currin, and Jeff Glenn of Northmarq arranged sale on behalf of Greystar.

Faron Thompson, David Vinson, Grant Harris, and Jeff Erxleben also of Northmarq arranged acquisition financing for the property on behalf of Sterling Equities. Northmarq secured a permanent-fixed loan for the borrower through its in-house Fannie Mae team.

 “The opportunity generated significant interest from a deep roster of institutional debt capital sources,” said Vinson.

Ascent Uptown is situated in the heart of Charlotte’s CBD at the doorstep of nearly 28 million square feet of existing or under construction office space, four professional sports teams, two grocery stores and abundant cultural amenities. Amenities include heated, saltwater rooftop pool; sky lounge featuring catering kitchen and event space; penthouse lounge with bar; private massage room; rooftop fitness center and pet spa with grooming salon.