HFF announces the $69.25 million sale of Centric Gateway, a 297-unit, newly completed mid-rise apartment community in Charlotte, North Carolina’s Uptown area.
The HFF team marketed the offering on behalf of the seller, Dominion Realty Partners. TH Real Estate, an affiliate of Nuveen (the investment manager of TIAA), purchased the property free and clear of existing debt.
Centric Gateway is located at 1010 West Trade Street positioning it near all of Uptown Charlotte’s employment, retail and entertainment amenities, including Gateway Village, Johnson & Wales University, Romare Bearden Park, Bank of America Stadium, BB&T Ballpark and Spectrum Center. Completed last year, the property comprises studio, one- and two-bedroom units featuring chef-inspired kitchens, stainless steel appliances, designer finishes, plank flooring, large walk-in closets, oversized windows, in-unit washers and dryers, and private patios or balconies. Community amenities include a resort-style saltwater pool, outdoor grilling and dining areas, fitness center, yoga/flex studio, sport courts, club lounge with game room and nearby access to bike share stations, light rail and bus service. Centric Gateway’s environmentally-conscious design has earned it National Green Building Standard™ (NGBS) Bronze-level certification.
The HFF investment advisory team representing the seller included managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.
Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.
About Dominion Realty Partners
Dominion Realty Partners (DRP) is a full-service real estate organization providing development, management, leasing, acquisition and investment services. Collectively, the DRP team of professionals brings more than five decades of real estate experience in delivering high quality, environmentally friendly commercial and residential real estate transactions throughout the southeastern and Mid-Atlantic United States. Having completed more than $2.5 billion in real estate transactions, 3.6 million square feet in office projects and more than 3,500 residential units, the DRP team has the capabilities and experience to structure complex financial arrangements and partnerships. In the past 24 months, DRP has developed and acquired more than $400 million in the Mid-Atlantic and Southeast. Learn more athttp://www.drp-llc.com/.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
