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TRANSWESTERN INVESTMENT GROUP ACQUIRES 338-UNIT APARTMENT COMMUNITY IN CHARLOTTE, N.C.
(DEC. 3, 2020 – CHARLOTTE, N.C.) – Transwestern Investment Group (TIG®) and a national operator announce the acquisition of Century Highland Creek, a 338-unit apartment community at 5410 Prosperity Ridge Road in Charlotte, North Carolina. Centennial Holding Co., an institutional owner based out of Atlanta, sold the property.
“Century Highland Creek’s favorable location along Interstate 485 provides residents convenient access to Charlotte’s largest employment centers, including University City and Uptown,” said Wes Davidson, Vice President at TIG. “We see upside potential through repositioning the asset to take advantage of strong job growth and in-migration trends in the North Charlotte area.”
Currently 95% leased, Century Highland Creek was originally built in 2013. With 14 garden-style buildings, the property offers residents lakeside living with a low-density setting, on-site walking trails, and pet and car care stations. TIG plans to update the majority of the units, as well as upgrade the exterior common areas and amenities, including the leasing center, fitness center and pool.
The property’s location in the North Charlotte submarket provides superior access to Interstate 485 and numerous retail amenities. Century Highland Creek benefits from a median household income of more than $87,000 within a 3-mile radius. Jobs in North Charlotte increased by 14.7% from 2014 to 2019, nearly double the national growth rate of 7.9% during this time. As of 2019, North Charlotte’s population increased by 3.1% since 2014 and is expected to increase by 7.7% between 2019 and 2024.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is a real estate investment adviser with $4.6 billion of assets under management as of year-end 2019. Part of the Transwestern companies, the firm serves a broad range of clients through a diversified array of discretionary and non-discretionary investment vehicles.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.