January 14, 2019
Los Angeles-based CBRE Global Investors acquired SkyHouse Uptown, two 24-story apartment towers in Charlotte’s popular Fourth Ward, from Novare Group for a reported $190 million. Built in two phases and completed in 2015 and 2017, the property includes 14,000 square feet of retail and an 8-story parking structure.
JLL’s David Gutting, Andrea Howard, Jim Sewell and John Currin handled the deal for the landmark asset on behalf of the seller.
Gutting says, “At 672 units, the total single-asset deal size was one of the largest to ever trade in the Southeast. SkyHouse Uptown’s location in the heart of Charlotte’s ongoing development boom made this an investment opportunity that attracted strong investor interest.”
The first purpose-built, high-rise apartment in Charlotte offers studio to three bedroom floor plans. Each tower features a rooftop pool with skyline views, and covered poolside lounges with billiards, fire pits and flat screen TVs. A one-acre SkyPark sits atop the parking structure.
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