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Ariel Property Advisors’ Capital Services Group has arranged a joint venture for the acquisition of a 65,000-square-foot, 60-unit affordable housing complex in Charlotte, NC.

Ariel Property Advisors Arranges JV to Buy Charlotte Affordable Housing

Ariel Property Advisors’ Capital Services Group has arranged a joint venture for the acquisition of a 65,000-square-foot, 60-unit affordable housing complex in Charlotte, NC.

Ariel’s Senior Directors Matt Swerdlow and Matthew Dzbanek secured $2.5 million from the limited partner, a New York City-based, mission-driven nonprofit that is committed to promoting and preserving high quality affordable housing nationwide. Fannie Mae through Greystone provided the $5.95 million senior loan on behalf of the sponsors, J&S Realty LLC and Sandee Road Ventures. The purchase price for the property was $8.4 million.

“I’m thrilled to be a part of an affordable housing transaction that is a win-win for both the sponsors and tenants,” Swerdlow said. “The sponsors are implementing an 80% area median income (AMI) rent restriction and plan to introduce a variety of social mobility initiatives that will benefit the tenants and overall community.”

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Sale/Acquisition
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