Northmarq, a leading commercial real estate firm, recently facilitated the sale of The Park at Fenentino in Charlotte. The affordable rental community was sold for $30.8 million to a non-profit housing fund called Community Solutions. Andrea Howard and her team at Northmarq represented the seller, Stonecutter Capital.
Built in 1980, this 216-unit complex boasts amenities such as a resort-style pool, fitness center with yoga room, lake views and plenty of green space. It was purchased by Community Solutions as part of their mission to reduce veteran homelessness and maintain affordability within the community.
According to Howard: “We are thrilled for our client on a successful sale during these challenging times in the capital markets.” This marks Community Solution’s first property acquisition in Charlotte.
The Park at Ferentino is conveniently located just five minutes from Meridian Place – an up-and-coming mixed-use development with over 100,000 square feet of retail and office space. It is also only fifteen minutes away from Uptown Charlotte.
This property shares its neighborhood with another multifamily community called The Park at San Remo which recently sold for $39.2 million.
