Knightvest Picks 4th Charlotte Rental Community

Knightvest Residential bought the 280-unit Stillwater Apartments at 8242 Runaway Bay Dr. from Stone Cutter Capital Management—the $39.2 million sale amounts to $140,000 a unit.

Stillwater is a collection of 20 garden-style apartment buildings developed in 1985. It has one-, two- and three-bedroom units with rent starting at $1,150 for a one-bedroom, $1,290 for a two-bedroom and $1,600 for a three-bedroom.

Knightvest is planning renovations to the 38-year-old property, including a resort-style pool and sundeck. Additional amenities will include a 24/7 business center, 24/7 fitness center, grilling stations, car wash station, dog park, outdoor kitchen and fireplace, jogging trail and concierge service. 

Knightvest manages three other apartment developments in Charlotte.