Blackstone Affiliate Trades Charlotte Apartments for $58.8M
Blackstone affiliate LivCor sold Tryon Farms Apartments for $58.8 million. The property at 15120 Wylie Way was acquired by GSL Properties. GSL paid around $245,000 per unit for the property.
Tryon Farms Apartments includes 240 units in southwest Charlotte. The Charlotte Business Journal reports Blackstone acquired Tryon Farms for $54.5 million in 2021 from Madison Capital Group, which developed the apartments.
LivCor was formed by Blackstone in 2013. The company’s multifamily portfolio includes over 400 properties and more than 150,000 units across the U.S.
A Blackstone affiliate was recently active in Charlotte’s industrial sector.
Blackstone bought a 1 million-square-foot industrial building in Pineville for $101.8 million. That facility was developed by Beacon Partners for Amazon, which operates a distribution center there.
Attend Connect Southeast Multifamily on December 4th in Key Biscayne when the market experts share the playbook for where capital is moving next, and how the region’s power players are positioning themselves to stay ahead of the national curve. Be there to explore the opportunities, challenges, trends, and the future outlook for the multifamily landscape throughout Florida and the Southeast. www.ConnectSEMF2025.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout