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Mesirow sold a 216-unit Charlotte apartment community to Expedition Capital Advisors (ExCap) for $54.7 million.

Northmarq’s Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn, and Austin Jackson brokered the sale of Enclave at Rivergate, a multifamily property built in 2009 and located at 12400 Toscana Way.

Northmarq’s Carolinas Debt + Equity team, led by Faron Thompson, Grant Harris, and Cabell Thomas, secured the permanent fixed loan on behalf of ExCap. The deal was completed with a loan from Freddie Mac and structured on a 5-year term with a 35-year amortization schedule.

Enclave at Rivergate features several renovations and upgrades since 2019, including painted balconies and breezeways, an added hammock garden, a reconfigured clubhouse layout, expanded and upgraded fitness and cardio center, more communal and coworking space, introduced a 24-hour package concierge service, upgraded pool furniture, installed modern pergolas and soft seating for the pool, renovated grill stations and installed an oversized fire pit, and added outdoor gaming and entertainment options.

The post ExCap Picks Up Charlotte Rental Asset for $54.7M appeared first on Connect CRE.

​  Mesirow sold a 216-unit Charlotte apartment community to Expedition Capital Advisors (ExCap) for $54.7 million. Northmarq’s Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn, and Austin Jackson brokered the sale of Enclave at Rivergate, a multifamily property built in 2009 and located at 12400 Toscana Way. Northmarq’s Carolinas Debt + Equity team, led by Faron Thompson, Grant Harris, and …
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