CHARLOTTE, NC - The Milestone Group announced its acquisition of The Weathersby Apartments, a 180-unit, fully renovated, market-rate multifamily community at 8415 University Station Circle in Charlotte, NC. The purchase price was not disclosed.
The Weathersby features modern two-, three- and four-bedroom apartments strategically located between two major job centers in North Charlotte. The community is located right off W.T. Harris Blvd and proximate to Uptown Charlotte, University City, and Northlake, with easy access to numerous shopping, restaurants, and other service retail.
Community amenities include a swimming pool with a bi-level sundeck, a clubhouse, a 24-hour fitness center, a dog park, an outdoor kitchen, and picnic spaces. The modern, fully renovated and updated residences include quartz countertops, white cabinets, tile backsplashes, stainless steel appliances, faux-wood plank flooring throughout, custom closets, and washers and dryers in every unit.
"We are excited to add this fully-renovated community to our portfolio," said Milestone Vice President of Acquisitions, Jason Wise. "Our team was able to efficiently source and execute this direct off-market acquisition and assume the existing financing, benefitting both Milestone and the seller by avoiding the loan prepayment penalty."
The Milestone Group is a leading, privately held real estate investment management firm with strong expertise and focus on value-add multifamily assets in major metropolitan markets of the United States. Founded in 2003, Milestone has created trust and confidence with its investors through successfully navigating multiple economic cycles across over $9 billion of multifamily investments totaling more than 90,000 units.