Newmark Arranges Sale, Financing for Charlotte Affordable Rental Community

Ascent Housing paid $28.8 million for a 140-unit affordable multifamily community in Charlotte. To help fund the deal, the company closed on $15.9 million in acquisition financing. Eller Capital was the seller of the Reserve at Waterford Lakes at 8725 Kody Marie Court.

Newmark arranged the sale and acquisition financing. Newmark’s Jason Kon, Dean Smith, John Heimburger, Sean Wood, John Munroe and Brenna Campbell represented the seller. Josh Davis and Patrick Breed secured the financing through Freddie Mac. 

Ascent Housing is committed to maintaining affordability while investing in resident-focused programming, including on-site collaborations that support financial empowerment, education, health and wellness initiatives. 

Built in 2008, Reserve at Waterford Lakes offers one- and two-bedroom apartment homes featuring modern kitchens with black or stainless steel appliances, glass cooktops, nine-foot ceilings and crown molding. Community amenities include a swimming pool, fitness center, resident lounge with games, business center and outdoor picnic and grilling areas.