JLL Capital Markets announced today that it has closed the sale of Barrington Place and Waterlynn Ridge, Class A multi-housing communities totaling 660 units in the Charlotte, North Carolina MSA.
JLL marketed the property on behalf of the seller, Waypoint Real Estate Investments, and procured the buyer, Greystar.
Nationally, the apartment market is 94-95% occupied— fundamentals that make our CEO Scott Lawlor confident in the continued growth in the multifamily sector. See the rest of his interview on Bloomberg TV's Money Undercover with Lisa Abramowicz.
“Scott’s extensive knowledge and management of securitized alternative investments for retail investors will help take our IBD and RIA division to a new level,” said Scott Lawlor, Chief Executive Officer of Waypoint Residential.
“Developers are competing to offer the sexiest, shiniest product at the highest price points,” he says, “but that is not where many households are formed. If you can pick your spots, as we do, you can stay busy even if we might be in a more mature part of the cycle.”