Flats at 87Ten

Capstone is pleased to present The Flats at 87Ten, a recently completed and stabilized hotel to multifamily luxury conversion, located in the thriving University City submarket of Charlotte, North Carolina. The property, originally constructed in 2000 as a TownePlace Suites, has been fully redeveloped into a modern, Class-A multifamily residence featuring luxury unit interiors and an expansive amenity package. Impressive property performance and strong organic rent growth have positioned the Flats at 87Ten as a highly desirable investment opportunity in one of Charlotte’s most dynamic submarkets. Despite the positive rent growth seen at the property and within the submarket, University City trails market rents seen in other submarkets such as Uptown Charlotte, South End, and South Park, allowing residents to enjoy upscale living at a more affordable rate. Additionally, the Flats at 87Ten is conveniently located within Charlotte’s second largest employment center thereby making the property particularly attractive to young professionals and students seeking affordability and convenience.

Investment Highlights:

• Charlotte’s Newest Boutique Living Experience Featuring Luxury Finishes and Expansive Amenity Package
• Impressive Property Performance with Strong Rent Growth and Positive Lease-Up Trends
• Class-A Living at a Significant Discount to New Construction Properties Nearby
• Ideally Located Within 2 Miles of Vanguard’s New 91-Acre Campus
• Unmatched Location Enveloped by Thriving New Developments and Thousands of Jobs