Source: Blaze Partners / #Apartments #Multifamily
CHARLOTTE, NC - Multifamily investment firm Blaze Partners announced the successful acquisition of The Gibson, a 250-unit luxury apartment community in Charlotte, North Carolina located in the thriving Plaza Midwood neighborhood. This transaction marks a continuation of the Company's current strategy of acquiring Class A communities within dynamic locations throughout institutional growth markets in the Southeast.
"We are thrilled to expand our Charlotte presence and add The Gibson to our growing portfolio of institutional assets," said Chris Riley, Co-Founder and Managing Partner of Blaze Partners. "The Gibson, unique in its design, walkability, and historic legacy, helped spur the transformation of the neighborhood. We are excited to take a stake in the continued growth of the submarket and embrace a community that stands unmatched amongst its peer set."
The Gibson, developed in 2015 and built upon the site and legacy of a historic recording studio, offers residents a mix of one-, two-, and three-bedroom floorplans with designer-level finishes and an expansive amenity set. Positioned at the gateway to Plaza Midwood on Central Avenue and minutes from Uptown Charlotte, the community is walkable to high-profile restaurants, bars, and retail and offers remarkable views of the Charlotte skyline.
"The Gibson transaction marks over $215 million in net acquisition volume in the last nine months, the vast majority of which has been with a slant towards core-plus assets in markets and locations that we deem to have superior long-term fundamentals with transformative catalysts to further drive demand," added Eddy O'Brien, Co-Founder and Managing Partner of Blaze. "We anticipate a continuation of this investment focus throughout the year as we look to prudently expand our footprint throughout the Southeast with a keen eye towards relative risk and return."