Charlotte Apartments Trade for $76.3M
Tishman Speyer made its first foray into the Charlotte market, purchasing Berkshire Dilworth, a 296-unit luxury multifamily property between West Midtown and the historic Dilworth neighborhood. Berkshire Residential was the seller of the asset, which traded for $76.3 million, or just over $250,000 a unit.
Berkshire Dilworth, located at 1351 E. Morehead St., is 97 percent occupied. The unit mix includes studios and one- to three-bedroom floorplans with an average size of 856 square feet.
Interior amenities at Berkshire Dilworth comprise a 24-hour fitness center, a yoga studio, a resident lounge, coworking spaces, a clubhouse and a rooftop lounge with a fireplace. Outdoor offerings include a swimming pool, a sundeck and a terrace lounge. The community also includes 3,000 square feet of street-level retail. Tishman Speyer is planning to upgrade the property’s amenities and exterior, along with select apartment improvements.
Newmark’s John Heimburger, Dean Smith and Sean Wood represented Berkshire Residential.
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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