Blaze Capital Partners has sold Charleston Row Townhomes, a 107-unit rental townhome community in Pineville, North Carolina. The firm previously acquired the property in July 2022 in partnership with Argosy Real Estate Partners for $32 million. The latest transaction marks an exit for Blaze from the asset, although the buyer and current sale price were not disclosed.
At the time of sale, Charleston Row Townhomes was reported to be 98% occupied, indicating strong tenant demand and stable in-place cash flow. The high occupancy level underscores the property’s positioning within its submarket and the appeal of its townhome-style rental product. While financial details of the current trade were not released, the prior acquisition price provides a reference point for investors tracking value trends in the area.
A Berkadia team led the disposition effort on behalf of Blaze Capital Partners. The transaction was handled by Berkadia professionals Caleb Troop, Thomas Colaiezzi and Matt Robertson, along with Drew Kwiatkowski of Berkadia Charlotte. Their role focused on marketing the asset and managing the sale process, with the buyer remaining undisclosed in the announcement.
Located at 11945 Crooked Stick Place and originally built in 1969, Charleston Row Townhomes offers a mix of two- and three-bedroom townhome units. Floor plans range from approximately 1,162 square feet to more than 1,700 square feet, catering to renters seeking larger residential layouts and additional storage compared to traditional apartment formats. Rents at the community range from $1,725 to $2,675, aligning the offering with the mid- to upper-tier segment of the local rental market.
The townhome residences feature private patios and one- or two-car private garages, adding convenience and privacy that can differentiate the property from conventional multifamily assets. These features help support the community’s occupancy performance and appeal to residents looking for a single-family lifestyle within a managed rental environment.
Charleston Row Townhomes is positioned in Pineville within Charlotte’s South Charlotte corridor, an area described as both employment-rich and amenity-driven. This location places residents near job centers and retail and service amenities, reinforcing the property’s long-term demand drivers. The transaction highlights ongoing institutional interest in well-leased townhome-style communities in established suburban corridors.
