NEW YORK, NY - Greystone and Cushman & Wakefield jointly announced they provided acquisition financing for, and arranged the sale of, respectively, Aventine, previously known as Ardmore at Bryton, a 288-unit multifamily property in the Charlotte suburb of Huntersville, North Carolina.
The multifamily property was sold by Ardmore Residential, Inc. to buyer Claremont Companies, a family office based in Massachusetts. Aventine becomes Claremont’s second acquisition in the Charlotte MSA in the past 12 months, adding to its most recent acquisition of Giddy Hall, a 171-unit property located in the Steele Creek submarket, which closed in December of 2023. The acquisition of Aventine helps contribute to the recently initiated diversification strategy of Claremont’s portfolio to strengthen the firm’s overall portfolio of assets, with Charlotte playing a key contributing role. Claremont now owns nearly 460 total units in the Charlotte MSA and plans to continue growing its portfolio in the market in the years ahead.
Cushman & Wakefield’s Alex McDermott, Louis Smart, Paul Marley, John Phoenix, Richard Montana, and Jacquelyn Aaron represented the seller in the $72,950,000 million transaction. Alex Basile, an Executive Director at both Greystone and Cushman & Wakefield, along with Michael Zelin and Drew Barnette of Cushman Wakefield’s Equity, Debt and Structured Finance team originated a $41.4 million Freddie Mac loan to finance the acquisition.
“Aventine is an attractive newly built community that is well-positioned in the Huntersville market and has benefited from an incredibly strong lease-up. Huntersville and the other northern Charlotte suburbs have become the darlings of the real estate investment community due to their strong school systems and resident demographics, exceptional connectivity via our interstate system, and high barriers to entry to new development. Our team looks forward to seeing this asset continue to thrive under the new ownership. Congratulations to all parties involved,” said McDermott, Executive Managing Director at Cushman & Wakefield.
Aventine is located at 13035 Ardmore Forest Rd. and features outsized floor plans along with an elite fitness center, car care center, clubhouse with a resident lounge, complimentary Starbucks bar, pet spa and park, and a resort-style swimming pool. The multifamily community also benefits from its positioning within Huntersville, which is one of Charlotte’ most sought-after pockets for real estate investment, and is strategically located alongside the I-485 and I-77 interchange and only 15 minutes from job hubs in Uptown and University City.
"Aventine represents an exceptional investment opportunity in a market characterized by strong demand and limited supply, and we are thrilled to have provided the best financing solution for the buyer," said Alex Basile, Executive Director at both Greystone and Cushman & Wakefield. "This transaction showcases the strength of our integrated platform, seamlessly aligning financing and investment sales to deliver outstanding results for our clients. We’re proud to have been part of this collaboration and look forward to seeing the continued success of this property under its new ownership.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 100-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group has closed $4.3 billion in sales volume through 151 deals and 25,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com
About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com