Suncaost Partners Wilmignton NC

Wilmington NC Real Estate News


Sale of 120-Unit Apartment Complex in Jacksonville, NC

December 6, 2016

Mark Johnson & Janet Rose of Coldwell Banker Commercial SunCoast Negotiate Sale of 120-Unit Apartment Complex in Jacksonville, NC for $7.6 Million

** Buyer Is Charlotte Investment Group that Owns 15,000 Apartment Units Across Southeast.
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Wilmington, NC — Mark Johnson and Janet Rose, brokers with Coldwell Banker Commercial SunCoast, recently negotiated the sale of Charleston Place, a 120-unit apartment complex at 400 Charleston Lane in Jacksonville, NC, on behalf of the seller, Charleston Place, LLC. The complex was sold for $7.6 million to First Charlotte Escrow Corporation Q1Four SRC Charleston Place LLC, a Charlotte-based multi-family investor group that owns approximately 15,000 apartment units across the Southeast.

“First Charlotte purchased Legacy at Abbington Place, an apartment complex across the street from Charleston Place, and were looking to expand their investment and property management portfolio,” said Rose. “The proximity of Charleston Place and the synergies between the two properties made it a perfect fit for their needs.”

Charleston Place was constructed in 2007 and is comprised of six buildings housing a mix of one-, two and three-bedroom apartments. Amenities include a pool, a clubhouse and fitness center. Kay Hill with NAI Earle Furman of Greenville, SC, represented the buyer in the sale. The closing was September 19, 2016.

Coldwell Banker Commercial SunCoast was founded in Wilmington, NC in 2005 to meet the commercial real estate needs of companies throughout southeastern North Carolina. The firm is comprised of 23 commercial agents and 9 staff members who specialize in real estate sales, leasing, investment and property management for retail and commercial property owners from Carteret County to the South Carolina border. Coldwell Banker Commercial Sun Coast was the number one office in North Carolina for Coldwell Banker Commercial in 2008, 2012, 2014 and 2015 and consistently ranks among the state’s top performers.