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Atlanta & Southeast  + Carolinas  + Apartments  | 
Beach Real Estate Funds, LLC has acquired The Brook multifamily community in Charlotte, NC for $39 million.

Beach Real Estate Funds Digs Up $39M for 162-Unit Community in Charlotte

Charleston, SC-based Beach Real Estate Funds, LLC (BREF), an affiliate of The Beach Company, has completed its $39-million acquisition of The Brook, a 162-unit garden-style multifamily community in Charlotte, NC.

Kevin Kempf, Howard Jenkins, Drew Harney, William Yowell and Emma Sidman of CBRE facilitated the sale on behalf of the seller, while Nate Sittema and Kristen Reilley facilitated the buyer’s financing. BREF’s acquisition team of Darby Parker and Niko LeVigne facilitated the sale on behalf of the buyer.

“We plan to perform a variety of exterior, amenity and interior improvements that will maximize the competitiveness of the property in the market, while generating outsized demand that will appeal to a broader renter base,” says Ward McCarthy, BREF’s asset management manager.

The 1984-constructed property has 17 residential buildings on 11 acres with pool and sundeck, fitness center, playground, canopied picnic and hammock area, dog park and car care station. It is located in Charlotte’s Pineville/Quail Hollow submarket.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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