300 Optimist Park changes hands with $10.55 million sale brokered by Northmarq’s Carolinas investment sales team
CHARLOTTE, NORTH CAROLINA (October 14, 2022) Northmarq’s Carolinas investment sales team, consisting of John Currin, Caylor Mark, Andrea Howard, Allan Lynch, Jeff Glenn, and Ryan Bergin, collaborated to secure the $10.55 million sale of 300 Optimist Park. The 3-floor/48-unit multifamily property (built in 2018) is located at 300 Parkwood Avenue in Charlotte, North Carolina. Northmarq represented the seller, TriBridge Residential, in the transaction.
“300 Optimist is a special boutique asset that serves a great niche in the fast-growing Mill District submarket of Charlotte. With its walkability to Optimist Hall, one of the city’s premier dining and entertainment destinations, and adjacency to the light-rail, 300 Optimist presented one of the most compelling investment cases this year in our market,” said Currin.
Located in the Optimist Park neighborhood, residents benefit from all the offerings the Queen City provides, from exciting nightlife to a vibrant local art and cultural scene. The property provides a mix of studios and 1-bed/1-bath units. The Charlotte investment market remained competitive during the second quarter—a trend that continues currently, according to Northmarq’s Charlotte Market Insights Report. While the pace of economic growth could level off nationally, the outlook for Charlotte remains favorable, and continued employment gains should support renter demand for units.
Apartment amenities include: Quartz countertops, front load washer and dryer, 9’ & 10’ ceilings, subway tile backsplash, vinyl plank flooring, single basin kitchen sinks, and stainless steel appliances. Community amenities include: Resident social events & private social network, garage units available for rent, Luxer package locker system, centralized mail kiosk, walking distance to Parkwood LYNX Light Rail Station and Optimist Hal, and less than two miles from Uptown and NoDa, within walking distance of Cordelia Park, and close to nature trails.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
