Cushman & Wakefield announced the commercial real estate services firm has arranged the $75 million sale of Country Club, a 454-unit apartment community located in Charlotte, North Carolina.
Watson Bryant and Brooks Colquitt of Cushman & Wakefield represented the seller, JEM Holdings, in the transaction. Concordia Properties acquired the property.
“Over seven years of ownership, we were able to successfully execute on our value-add strategy in one of the fastest growing markets in the Southeast,” said Jessica M. Saks, Chief Operating Officer of JEM Holdings. “We would like to thank Cushman & Wakefield for facilitating a seamless transaction. We also want to congratulate Concordia on their acquisition and wish them success in the next phase of ownership for this property.”
Country Club is situated near the 78-acre mixed-use Eastland Mall redevelopment within blocks of the future Lynx Gold Line stop at Eastway Drive.
“Country Club is situated in one of the most dynamic submarkets in all of Charlotte and is poised for future rental growth with limited nearby future supply,” Colquitt said.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.