Avison Young

Starlight to acquire North Carolina apartment

Monday, February 2, 2015

The Ontario-governed Starlight U.S. Multi-Family Core Fund (Starlight) has entered an agreement to acquire a 176-unit apartment complex in Charlotte, North Carolina. Located at 9005 Post Canyon Lane, the LEED-Silver certified property, known as Belle Haven Apartments, will be purchased for approximately $26.4-million U.S.

Completed in 2014, Belle Haven Apartments is comprised of seven three-storey buildings with one, two and three-bedroom units. Community amenities include a central clubhouse, state-of-the-art fitness centre, yoga studio, sports and entertainment lounge, games room, business centre, swimming pool, dog park with pet washing station, and a car care centre.

The acquisition, which was agreed upon on Jan. 29, is expected to close on Feb. 17, 2015. Greystar Real Estate Partners will act as the property manager for the complex.

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