**Northwood Ravin Sells 402-Unit Holly Crest Apartments for $119.5M**
Northwood Ravin has sold Holly Crest Apartments, a 402-unit multifamily community located in Huntersville, North Carolina, for $119.5 million. The sale price equates to approximately $300,000 per unit. The buyer is Mesirow.
Completed in 2015, Holly Crest is situated off Holly Crest Lane near the intersection of Statesville and Sam Furr roads. The community offers a wide array of amenities including a fully equipped fitness center, swimming pool, sauna, golf simulator, and a dedicated dog park. Apartment sizes range from 636 to 1,598 square feet, with monthly rents between $1,520 and $2,748.
According to the Charlotte Business Journal, Northwood Ravin has been expanding its portfolio with additional build-to-rent properties. One such project is The Lodges of Huntersville. Earlier this year, the developer also opened The Lodges at Fort Mill, a comprehensive rental community that features 118 apartments, 80 townhomes, and 63 single-family homes.
