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Ascent Housing buys 140-unit affordable complex in Charlotte for $28.8M
The acquisition was backed by $15.9 million in Freddie Mac acquisition financing arranged by Newmark.
Ascent Housing has paid $28.8 million for a 140-unit affordable multifamily property in Charlotte, according to ConnectCRE.
To help fund the purchase, the company closed on $15.9 million in acquisition financing. Newmark arranged the sale and acquisition financing.
Eller Capital was the seller of the Reserve at Waterford Lakes, at 8725 Kody Marie Court, and Newmark represented the seller with a team that included Jason Kon, Dean Smith, John Heimburger, Sean Wood, John Munroe, and Brenna Campbell.
The financing was secured through Freddie Mac, with Josh Davis and Patrick Breed handling the deal. The community, built in 2008, offers one- and two-bedroom apartment homes and amenities such as a swimming pool, fitness center, and resident lounge.