Argyle Partners with Cadre to Acquire Off-Market Apartments
Argyle Real Estate Partners has acquired Indigo at Cross Creek in Indian Land, SC within the greater Charlotte MSA. Real estate investment firm Cadre is the joint venture partner on the deal.
Managing Director Caleb Troop and Director Thomas Colaiezzi of Berkadia Charlotte and Managing Director Mark Boyce and Senior Director Blake Coffey of Berkadia Charleston completed the $76 million sale on behalf of the seller, North Carolina-based Taft Development Group and UHF Development. As part of the transaction, Argyle assumed a Fannie Mae loan.
The 303-unit community was built in 2017 with one-, two-, and three-bedroom apartments. Community amenities include a fully equipped resort-style pool with a cozy lounge/entertainment area featuring outdoor kitchens, a synthetic turf putting green, a bocce ball court, and a lavish clubhouse that offers access to both business and leisure resources for residents to enjoy.
Rangewater Real Estate will serve as the property manager.