Jones Lang LaSalle Inc.

01/21/2021 | Press release | Distributed by Public on 01/21/2021 09:31

LaVie SouthPark apartments in Charlotte purchased by Starlight

CHARLOTTE, Jan. 21, 2021 - JLL Capital Markets announced today that it has closed the sale of LaVie SouthPark, a 321-unit multi-housing property located at 5725 Carnegie Blvd. in Charlotte, North Carolina.

JLL represented the seller to complete the sale to Starlight.

LaVie SouthPark offers studio, one- and two-bedroom floorplan options, and contain modern finishes with stainless steel appliances and granite countertops in kitchens. The NGBS Green-registered building has sustainable features and offers community amenities including a lush saltwater pool with a sundeck and lounge; clubroom; business center with coworking space; and a two-story fitness center with a yoga studio.

LaVie SouthPark sits in one of Charlotte's most desirable communities, boasting a thriving business environment (more than 67,000 employees and 4.64 million square feet of office space), lively shopping and entertainment venues (including Simon Property Group-owned SouthPark Mall) and substantial infrastructure improvements (such as the SouthPark Cultural Loop). The Cultural Loop is a pedestrian path that will eventually connect SouthPark's three most visited areas: Piedmont Row, Morrison Regional Library and Phillips Place.

The JLL Capital Markets team representing the seller was led by Andrea Howard, Allan Lynch, Caylor Mark, John Currin and Jeff Glenn.

'Affluent suburban assets with institutional pedigrees continue to attract both foreign and domestic capital to the Carolinas,' said Howard. 'The seller's recognition of SouthPark's livability amid a high-growth Charlotte market proved more prescient each year of its ownership, culminating in a successful transaction to Canadian-based Starlight.'

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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