CHARLOTTE, NC - Cushman & Wakefield announced that the commercial real estate services firm has arranged the $38,600,000 sale and financing of Giddy Hall, a 171-unit multifamily property in Charlotte, North Carolina.
Alex McDermott and Caroline Piper of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented the sellers, Mission Properties, LLC and Chaucer Creek Capital, in the transaction. Cushman & Wakefield’s Equity, Debt, & Structured Finance team of Alex Basile and Michael Zelin served as the exclusive advisor to the buyer, Claremont, in the procurement of acquisition financing.
“Giddy Hall is poised to benefit from the unprecedented growth on the west side of Charlotte as the area transitions from an industrial hub to strong low density residential market,” said McDermott, Executive Managing Director at Cushman & Wakefield.
Built in 2023, Giddy Hall is situated in the heart of Steele Creek’s retail corridor. The property offers a plethora of dining and entertainment options within minutes including Topgolf, Target, Harris Teeter, Publix and more, as well as direct access to the city’s top employment hubs via nearby I-485.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 105-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2023, the group closed $4.9 billion in sales volume through 151 deals and 26,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com