JLL Income Property Trust has recently completed the sale of Presley Uptown, a luxurious 230-unit community in Charlotte. The property was sold for $65.8 million, equating to nearly $300K per unit. Eaton Vance Investment Managers acquired the property and also took on the remaining balance of a $30 million loan from Swiss Re.
The Class A community was originally purchased by JLL REIT for $55 million in 2019 with assistance from Cushman & Wakefield as advisors. This modern development offers studio, one-, two- and three-bedroom layouts ranging from 450 to 1,525 square feet and includes ground-floor retail space.
Residents can enjoy an array of amenities at this expansive 2.2-acre property such as a state-of-the-art fitness center complete with yoga room, clubhouse, business center, pet spa and cyber café. Outdoor enthusiasts will appreciate the swimming pool with cabana clubroom perfect for relaxing or entertaining guests.
Eaton Vance’s acquisition showcases their confidence in this thriving rental market located within Charlotte’s vibrant cityscape without mentioning any specific platforms or companies involved.
