
Berkadia Completes Sale of NC Multifamily
Berkadia Institutional Solutions has announced the sale of Concord Ridge, a 336-unit garden-style multifamily property in Concord, NC. Managing Director Caleb Troop, Director Thomas Colaiezzi and Associate Matt Robertson of Berkadia Charlotte and Managing Director Mark Boyce and Senior Director Blake Coffey of Berkadia Charleston completed the sale on behalf of the seller, North Carolina-based Southwood Realty. The buyer was Alabama-based StoneRiver Company LLC, and the deal closed on August 1.
“We continue to see smart investment firms flock to Cabarrus County for residential assets,” said Troop. “Employment demand drivers from firms like Eli Lilly, Red Bull, Old Dominion Freight Line, and others are establishing this area as a key pocket for growth.”
Located at 3635 Coventry Commons Ave. Southwest, Concord Ridge features one-, two-, and three-bedroom plans with walk-in closets, granite countertops, and private balconies or patios.
Amenities include a saltwater swimming pool, fitness center, clubhouse, and picnic area.
- ◦Sale/Acquisition