Berkadia, a leader in the commercial real estate industry, announced the sale of Evoke at Indian Trail, a Class A multifamily development site consisting of 28.18 acres in Indian Trail, North Carolina, a suburb of Charlotte.
Senior Managing Director Caleb Troop and Director Thomas Colaiezzi of Berkadia Charlotte led the transaction on behalf of the seller, the High Point, North Carolina-based Royal Management.
The Evoke at Indian Trail site sold on January 29 to Charlotte-based The Spectrum Companies, and its partner Chicago-based real estate investment firm Heitman LLC. TD Bank will serve as their construction lender.
“The 320-unit apartment community that Spectrum plans to build will be perfectly positioned in a high-growth pocket of suburban Charlotte,” Troop said. “Spectrum builds best-in-class communities across the Carolinas, and I have no doubt they will deliver that here.”
“Working with Berkadia and Spectrum to complete this sale during challenging times, as well as many twists and turns, has been a fantastic experience. Spectrum has purchased an exceptional site, and we expect them to be very successful with this project,” said Arthur Rebisz of Royal Management.
“Royal Management and Berkadia were fantastic partners throughout this entire process. Getting any land sale across the goal line in today’s environment is difficult. Working with high-quality partners like Arthur, Caleb and Thomas are what got this deal closed. We hope to do more transactions with them in the future,” added Craig Miller of The Spectrum Companies.
