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Ares Secures Land for 400-Unit Charlotte Rental Community
Ares Management Corp. bought a 16.4-acre multifamily development site at The Exchange at Indian Land. The Charlotte Business Journal reports Ares paid $16.5 million for the property, where 400 apartments have been planned.
Ares acquired the site from Crosland Southeast and FCP. The two partnered on The Exchange at Indian Land, a mixed-use development that includes stores opened last year by Costco Wholesale Corp. and Lowe’s Foods (shown). The Crosland team will codevelop the multifamily project with Ares. Vertical construction on the apartments will begin soon.
The first apartments at The Exchange at Indian Land to deliver in the first quarter of 2027.
JLL‘s Hunter Barron, John Gavigan and Travis Anderson represented Ares in the land deal with Crosland and FCP.
The Exchange at Indian Land is located at 8918 Charlotte Highway. It spans over 130 acres in total. Development plans have called for 400 apartments, 320 townhomes and 115,000 square feet of commercial space.
- ◦Sale/Acquisition
- ◦Development
