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Atlanta & Southeast  + Southeast  + Apartments  |  November 9, 2020
David Cohen
By: David Cohen

Charlotte MF Property Trades for $38M

Newmark has arranged the $38.1 million sale of Quail Valley on Carmel, a 232-unit multifamily property in Charlotte.

The garden-style property includes 22 two-level buildings, with units consisting of one-, two- and three-bedroom floorplans. The apartments include air conditioning, modern appliances, hardwood flooring, wood-burning fireplaces, and a private patio or balcony. Spanning nearly 34 acres, the pet-friendly community features walking and biking paths, a clubhouse, resort-style pool, hammock garden, an outdoor fire pit, grilling and patio area and a pet park.

Dean Smith, John Heimburger, Sean Wood, Alex Okulski, Jason Kon and John Munroe of Newmark represented the seller, Charlotte-based Ferncroft Capital, in the transaction. The buyer was McDowell Properties.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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