Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Blackfin Real Estate Investors Sells Charlotte Multifamily for $78M Following $19M Purchase in 2017
Arlington, VA-based Blackfin Real Estate Investors has closed on sale of Pressley South End apartments in Charlotte, NC for $78 million. The 1969-constructed, 504-unit property was originally acquired in June of 2017 for $19 million.
“After executing our business plan, we elected to capitalize on an optimal point in the current real estate market to maximize returns for our investors,” said Andy Buchanan, co‐founder and managing partner of Blackfin.
Deaton Investment Real Estate represented ownership in the sale.
The transaction was the firm’s third disposition in 2022 comes on the heels of Blackfin’s recent $886 million portfolio acquisition of 3,564 apartments across the Sunbelt. The company has acquired 26 properties in the past 18 months.
Blackfin Real Estate Investors is focused on acquiring Class B and Class C value add and core plus apartment communities across the East Coast. The company’s portfolio currently consists of 10,000 units from Boston to Orlando.
- ◦Sale/Acquisition
