Two multifamily communities in Charlotte sold for a combined $183.5 million. Two heavyweight apartment investors, St. Regis Properties and Ares Public Fund have spent over $183 million acquiring Charlotte commercial, mixed-use and multifamily real estate investments including The Crown of Queen City and The Aritzia at LoSo.
St. Regis Properties acquired Crown of Queen City near uptown from Kohlberg Kravis & Roberts (KKR) for $88 million in February 2021. KKR bought the Class A apartment community at 101 W. Morehead Street, 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.
The Crown of Queen City is a 260-unit mixed-use development located where South End meets Uptown in Charlotte. Built in 2020, the property features modern amenities on several levels such as a saltwater rooftop pool and sky lounge with views of Uptown Charlotte, a co-working space, a clubroom, a pet spa and dog run, and a state-of-the-art gym. The Crown of Queen City is steps away from the central business district, and 1 block away from the Lynx Blue Line station to access all of Charlotte.
The Crown of Queen City has about 10,000 square feet of amenity space and 1,500 square feet of ground-floor retail space and is in a central location in the heart of Charlotte.
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 neighborhood nearby has plenty to offer conveniently located on the Lynx Light Rail, restaurants, art galleries, and all the best of LoSo are just minutes away.
The Class A development, located at 200 E. Cama Street, was built in 2020. It has studio, one- and two-bedroom units. Monthly rent rates range from $1,402 – $2,854.
