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Tishman Speyer buys Dilworth multifamily property for $76.3M
The Charlotte deal includes 296 units across studio through two-bedroom layouts, with plans to upgrade the exterior, amenities, and apartments.
New York-based investment firm Tishman Speyer has entered the Charlotte market by purchasing a multifamily development in Dilworth for $76.3 million, according to Bisnow, citing a report from the Charlotte Business Journal. The property, Berkshire Dilworth, is located at 1351 E. Morehead St.
The seller, Boston-based Berkshire Residential Investments, acquired the site in 2019 for $83 million, according to the CBJ and Mecklenburg County records cited in the coverage. The community includes 296 studio, one- and two-bedroom apartments, plus amenities such as a fitness center, pool, rooftop lounge, and yoga room.
The ground floor includes 3,000 square feet of retail space. Tishman completed the purchase through its $973 million TS Plus fund, and it said it is planning additional investments to upgrade the development’s exterior, amenity areas, and apartment units.
Bisnow also notes the acquisition marks Tishman’s first property in Charlotte. The firm entered North Carolina earlier in January when it bought The Maggie, a 244-unit multifamily community in Raleigh, also through its TS fund.