Wolf Multifamily Packs $16M into Townhome Twofer in Charlotte
Cushman & Wakefield has arranged a $16.2-million acquisition financing on behalf of Wolf Multifamily Investments, LLC, for two townhome communities in Charlotte, NC.
Timberstone Commons on Yorkhills Drive features 89 units, 42 of which are HOA units due to an existing fractured condominium regime. Wolf Multifamily Investments acquired 69 units at the community andwith plans to acquire the remaining 20 over the next two years.
Greenwood Village Townhomes is located on Ramblelake Road and features 24 units.
Blake Cohen, Mike Ryan, JP Cordeiro and Taylor Mathis of Cushman & Wakefield secured the financing through Ready Capital.
“Timberstone and Greenwood offer immediate scale through their positioning less than three miles apart and are in a submarket that is experiencing some of the highest rent momentum in the Charlotte metro,” said Cohen. “These favorable market fundamentals strongly position Wolf Multifamily Investments to execute their value-add strategy and maximize performance at these communities.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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