New York-based Investment Groups Close on Junction at Antiquity in Cornelius, NC
GPG Properties, the recently-launched investment arm of the Glick Family portfolio,has closed on Junction at Antiquity, a 329-unit rental complex at 22415 Market Street in Cornelius, NC, with private equity firm Spyglass Capital Partners, LLC. The suburban complex, built in 2017, is located approximately 20 miles from the Charlotte business and shopping districts.
“Junction at Antiquity is the second of three apartment communities we are acquiring outside of New York City this year,” says Jason Glick, Managing Partner, GPG Properties. “Our goal is to diversify and expand the Glick family portfolio with large multi-family assets in high-growth areas.”
Adds Randy E. Glick, President, GPG Properties, “With 60 years of owning and managing residential and mixed-use properties in Manhattan, we believe the time is right for taking our experience and investment capabilities into new markets.”
Situated on the 128-acre Antiquity development in Cornelius, considered one of Charlotte’s top five suburbs, Junction at Antiquity includes a mix of one-, two- and three-bedroom units in a sophisticated, lushly landscaped setting. The spacious apartments feature contemporary kitchens with granite countertops, ceramic tile backsplashes and chef-inspired stainless-steel appliances and washer-dryers. Bathrooms have double sinks and deep-soaking tubs, and there is abundant closet space in each apartment. Among the building-wide amenities are a resort-style salt water swimming pool with surrounding lounge area, 24-hour yoga/cross training center with fitness-on-demand kiosk, outdoor grilling areas, bocce ball court, bike repair station and storage, dog spa and private dog park. In addition, the complex provides such resident services as a complimentary coffee bar, lounge with iMacs and printers, concierge package storage, and WiFi access throughout the common areas, club and lounge. In addition, many of the units feature covered balconies.
“Junction at Antiquity is a wonderful property located in the great community of Cornelius just minutes to the town of Davidson and Lake Norman,” points out Jason Glick. “We absolutely love the greater Charlotte area for the appeal of its charming and friendly communities, as well as its diverse and expanding economy. The management is a local company that is highly regarded for its high standards of operations.”
GPG Properties recently acquired a property in Nashville and is expected to close on another apartment community later this year in Atlanta. In New York City, it is in the process of completing the acquisition of a mixed-use portfolio on the Upper West Side, comprising 71 apartment units and five grade level retail spaces along Amsterdam Avenue.
The seller, LIV Apartment Partners, was represented by Jordan McCarley, Executive Managing Partner, Cushman & Wakefield. GPG Properties and Spyglass Capital Partners LLC were self-represented. The sales price was $62,263,250.
About GPG Properties (Glick Property Group)
GPG Properties is the investment arm of the three generation Glick real estate business run by Alvin Glick, Randy Glick and Jason Glick. It represents holdings that include the Glick family portfolio, comprising approximately 1,200 residential and retail units in Manhattan, as well as multi-family investments throughout the US. This includes, most recently, the purchase of a 291-unit residential complex in Nashville, TN. For more information, please visit www.gpg.properties
