The Solomon Organization Splits with Charlotte Multifam Portfolio for $174M

The Solomon Organization has sold a portfolio of three Charlotte, NC garden apartments with 762 combined units for $173.5 million:

  • Waterford Hills Apartments, Charlotte, 270 units, built in 1995
  • Mission Matthews Place, Matthews, 392 units, built in 1994
  • Matthews Pointe, Matthews, 100 units, built in 1986

 “Our model historically anticipates a longer hold than five years, but in this case the rapid appreciation and the strength of this offer persuaded us to sell assets in this great market – but we fully expect to be back as we plot future acquisitions,” said Zach Solomon, managing principal for Solomon.

The communities are located in suburban Charlotte locations with convenient access to the metro’s major employment centers in Uptown, University City, South End and Ballantyne.

Kevin Kempf, Howard Jenkins, Drew Harney and William Yowell of CBRE represented Solomon.

Photo: Mission Matthews Place

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