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Two Charlotte Rental Assets Trade for $183.5M
Two heavyweight apartment investors have spent over $183 million gobbling up Charlotte commercial real estate.
St. Regis Properties acquired Crown of Queen City near uptown from Kohlberg Kravis & Roberts (KKR) for $88 million in February 2021. The Charlotte Business Journal reported KKR bought the Class A apartment community at 101 W. Morehead St., formerly called Broadstone Queen City, for $90 million in February 2021. Alliance Residential built the $52 million, 260-unit development at the edge of South End and uptown.
It delivered in 2020 and has about 10,000 square feet of amenity space and 1,500 square feet of ground-floor retail space.
The Aritzia at LoSo, a 350-unit complex in Charlotte’s lower South End neighborhood, sold on Nov. 19 for $95.5 million. Ares Public Fund acquired the property from RangeWater Real Estate.
The Class A development, located at 200 E. Cama St., was built in 2020. It has studio, one- and two-bedroom units. Monthly rent rates range from $1,402 – $2,854.
- ◦Sale/Acquisition
