Charlotte-Area Investors Tap BWE for $37.75M Acquisition Loan

BWE secured $37.75 million to finance the acquisition of Graces Reserve Apartments, a three-story garden-style apartment complex in Kannapolis, North Carolina, part of the Charlotte metropolitan area.

BWE’s Maxx Carney, Dan Rosenberg, Logan Petersmeyer, and James Rogers originated the five-year loan from a life company on behalf of Guardian Capital and New York Life Real Estate Investors. In addition to acquiring the property, Guardian has a number of renovations planned.

Built in 2021, Graces Reserve consists of 240 apartments in one-, two-, and three-bedroom arrangements. All apartments have private patios and balconies. Amenities include a saltwater pool, fitness center, and a pet park.

Located at 900 Graces Reserve Circle, the property is in one of the Charlotte MSA’s fastest-growing regions, with Kannapolis having seen a population increase of almost 12% from 2020 to 2023. Over the next five years, the county’s population is expected to increase by an additional 50,000 residents.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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