CHARLOTTE, NC—Capstone Apartment Partners has brokered the $4.1 million sale of Uptown Court: a 30-unit, garden-style apartment community in the fourth ward of Uptown Charlotte.
Capstone sold the property on behalf of the seller and procured the buyer, DXE Properties. The Capstone Apartment Partners transaction team was led by Alex McDermott and Ron Corrao.
“Charlotte continues to experience explosive growth in both population and employment. Investors have taken notice and are looking for opportunities across all asset classes, especially when they are as well-located as Uptown Court,” according to McDermott.
Uptown Court was built in 1985 and features one- and two-bedroom apartment homes in three three-story buildings. It was occupied at 95% at the time of closing. Each unit features a fully equipped kitchen, and select renovated units are well-appointed with hardwood-style vinyl flooring, updated cabinetry, resurfaced or granite countertops, subway tile backsplashes, and stainless-steel appliances. DXE plans to continue upgrading units with new flooring, cabinetry, countertops, and lighting packages.
