National Real Estate Firm Completes Sale of Multifamily Community Totaling 210-Units

Hudson Capital Properties (HCP), a multifamily real estate investment and development firm focused on value-added acquisitions in Southeastern US, today announced the $30.15 million sale of Galleria Village Apartments at 1616 Galleria Club Lane in Charlotte, NC to Blaze Partners and True North Management Group.HCP acquired the property in 2011 for $18.5 million. The announcement was made by Robert B. Cohen, II, Executive Vice President of HCP.

Built in 2005, Galleria Village Apartments is situated only minutes from Uptown and South Park, home to the area's best shopping, entertainment and dining destinations. The garden-style community features one-, two- and three-bedroom homes and boasts 95 percent occupancy. Homes offer designer kitchens, efficient appliances, spacious closets and ample storage.

HCP targets assets that deliver immediate value through improved cash flow by seeking properties valued at or below their replacement cost, with attractive stabilized yields, and have further potential to add value through capital improvements. The firm and its principals invest considerable equity capital into its transactions and takes a true owner-operator’s view of the strategy and timeline for each investment. HCP’s target markets have high barriers-to-entry and supply constraints with regard to properties located in established neighborhoods, CBDs and in educational and medical centers, and are often in state capitals. HCP is an expert at sourcing deals, frequently transacting with capital constrained sellers that have completed some phases of value add, and with sponsor groups seeking early exit following a quick uptick in value.

About Hudson Capital Partners

Founded in 2009, Hudson Capital Properties (HCP) is a multifamily real estate investment and development company. Through its affiliated companies, Hudson Capital acquires, owns, and operates a portfolio of multifamily properties in the Southeastern United States that currently comprises over 6,500 units, and is currently constructing more than 500 apartment units just outside of Manhattan. Led by industry leaders James S. Cohen, Frank Huttle III and Robert B. Cohen II, the HCP team has developed a track record of value creation through the acquisition, development, and management of multifamily properties. With in-house expertise in development, construction, asset management and finance, HCP has proven its ability to source opportunities, close transactions quickly and efficiently manage and perform large scale improvements on its properties.