Berkadia Completes the Sale of Residences at Belmont in Belmont, North Carolina
BELMONT, NC – February 5, 2024 – Berkadia announced today the sale of Residences at Belmont, a 176-unit garden-style multifamily property located in Belmont, North Carolina. Managing Director Mark Boyce of Berkadia Charleston led the sale on behalf of the seller, Napali Capital. URS Capital was the buyer and assumed the Fannie Mae loan. The deal closed on January 29.
“Residence at Belmont has historically been a well performing asset and will continue to benefit from its strong location and lack of immediate competition in the sub-market,” said Boyce. “We’re seeing an uptick in activity with an emphasis for attractive debt assumptions.”
Located at 199 Belmont Mount Holly Rd, the property affords convenient access to I-85 and Highway 74. Residents at Belmont was built in 1988/1996 and features 176 units.
URS Capital Purchases Charlotte-Area Community | Multi-Housing News
URS Capital Partners buys Belmont apartment complex in $23.1M deal | Charlotte Business Journal
Belmont, N.C., Apartment Property Sells for $23.1Mln | Commercial Real Estate Direct