Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Atlanta & Southeast  + Carolinas  + Apartments  |  May 16, 2024
Capstone brokers sale of three Charlotte Class-C apartments
Mike Boyd
By: Mike Boyd

Fortune Holdings Acquires 3 Class-C Charlotte Apartment Projects

Fortune Holdings has picked up three Class C multifamily properties in West Charlotte. Fortune paid $49.6 million for the group. Capstone Companies, the broker in the deal, says the transaction is the largest Class C portfolio transaction by unit count and total dollar amount in 2024 to date.

The properties are Scarlet Pointe (274 units-top photo), Townhomes at Wisteria Hills (102 units-bottom of photo), and Ravenwood Hills Apartments (120 units). Robinson Realty sold the Ravenwod Hills Apartments. Lucern Capital Partners sold the other two. All three were built in the early 1970’s.

Fortune Holdings, LLC emerged as the sole buyer in this transaction, acquiring the properties as part of a strategic investment initiative. Fortune Holdings plans to renovate the properties for sustainable growth.

The Capstone brokerage team was made up of Ron Corrao and Eric Liebich.

Connect

Inside The Story

Capstone

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
New call-to-action