December 21, 2020
JLL has brokered the $69.5 million sale of Novel Research Park, a 280-unit, 271,600-square-foot, garden-style multifamily community within University Research Park in Charlotte.
Developed by the seller, Crescent Communities, in 2019 as part of a joint venture with Phoenix Capital Holdings, the community sits on 19 acres. Apartment units at the community are equipped with fenced-in pet yards, quartz countertops, eat-in kitchen islands, LED lighting, double sink vanities and various unit finish options. Community amenities include a hammock garden, grilling station, outdoor shuffleboard court, saltwater pool, poolside bar, fitness center, pet park and coworking booths as well as micro-offices.
Allan Lynch, Caylor Mark, Andrea Howard, John Currin and Jeff Glenn of JLL represented Crescent Communities in the sale. RK Properties acquired the community.
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