CHARLOTTE, NC—Capstone Companies is pleased to announce the successful closing of Summerfield Apartments, a 52-unit garden-style apartment community located in Charlotte, North Carolina. The sale, which closed on September 30, 2024, for a price of $8.5 million, facilitated the transfer of ownership from Summerfield Estates LLC to Vertex Investments.
The Capstone brokerage team was led by Investment Sales Advisor, Dane Lozier, and Firm Partner, Ron Corrao, who facilitated the sale on behalf of the buyer and seller. Brokerage team members Eric Liebich, Mike Mosher, Josh Greenwald, Scott Fuller, and Matt Weinstein also assisted in the sale process.
“Our team is honored to have played a role in this transaction,” said Lozier. “This sale marks a significant milestone for all parties involved and highlights our commitment to delivering exceptional results for our clients despite challenging market conditions. We are confident that Vertex Investments will continue to enhance the value of this property and provide a high-quality living experience for its residents.”
Summerfield Apartments, built in 1991, is situated in thriving South Charlotte. The property features a variety of amenities, including a fitness center, clubhouse, and walkability to nearby retail centers. With its convenient location and desirable features, Summerfield Apartments will continue to serve as a popular choice for residents seeking affordable and comfortable housing without compromising on quality. This sale plays an important role in the ongoing revitalization of the South Charlotte submarket.
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