In February 2021, two major investors in the apartment industry made a significant investment of $183 million in commercial real estate properties located in Charlotte. St. Regis Properties purchased Crown of Queen City from Kohlberg Kravis & Roberts (KKR) for $88 million, while Ares Public Fund acquired The Aritzia at LoSo for $95.5 million from RangeWater Real Estate.
The Class A apartment community at 101 W. Morehead St., previously known as Broadstone Queen City, was originally bought by KKR for $90 million before being sold to St. Regis Properties just one year later.
Alliance Residential developed The Aritzia at LoSo, a 260-unit complex with amenities such as 10,000 square feet of communal space and ground-floor retail options spanning over an area of about 1,500 square feet.
Located on East Cama Street and built in the year 2020,the Class A development offers studio apartments along with one- and two-bedroom units with monthly rent rates ranging between $1,402 – $2 ,854 .
