Northmarq’s Multifamily Investment Sales team leads sale of newly built Steele Creek Apartments in Charlotte, NC

CHARLOTTE, N.C. — Northmarq’s Charlotte Multifamily Investment Sales team led by Ron Corrao, Eric Liebich, Dane Lozier, Scott Fuller, Matt Weinstein, and Dominic Bologna successfully facilitated the $7.45 million sale of the Steele Creek Apartments, a newly-constructed 36-unit multifamily community located at 10525 Steele Creek Rd in Charlotte, North Carolina.

Northmarq represented the seller, Kearey Construction, a North Carolina based privately-owned developer of multifamily, industrial, and mixed-use developments. Northmarq also sourced the buyer, Maple Court — a New York-based, privately-held, owner operator of multifamily assets focused on core markets in North Carolina.

“We were thrilled to lead the process that brought these two parties together,” said Lozier, a senior associate who spearheaded the transaction on behalf of Northmarq. “Steele Creek Apartments is a great example of how the strong market fundamentals and demand drivers of the Charotte MSA continue to garner out of state investment for well-located, high quality, multifamily assets.”

“This acquisition marks the beginning of our boutique high-quality Charlotte portfolio. We’re excited to expand the portfolio and accumulate more assets of this size, vintage and location quality in the Carolinas,” said Tyler Goldman, Founder of Maple Court. “The property’s newer vintage, high quality location and opportunity to create value are exactly what we look for in new acquisitions, and we’re really excited to elevate the experience of our residents and help beautify the community of Steele Creek.”

The Class-A 2023 vintage garden style apartment community consisting of spacious one- and two-bedroom floorplans, will be rebranded as Exchange at Steele Creek. Units include nine-foot ceilings, a washer and dryer in all units, granite kitchen and bathroom countertops, stainless steel appliances, modern and brushed nickel light and bathroom fixtures, spacious closets and a private terrace or balcony with aluminum railings. The community sits on 2.27 acres and includes 62 parking spaces.

Steele Creek Apartments boasts a highly desired location in the vibrant South Charlotte submarket. It is strategically situated near Interstates 77 and 485 where residents benefit from convenient access to more than 100,000 job opportunities in Uptown, as well as multiple prominent employers in the immediate submarket.

The apartment community is in proximity to various retail and commercial amenities, entertainment options, and more. The property is roughly 20 minutes from Uptown and 15 minutes from Charlotte Douglas International Airport.