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Former Burned Out Charlotte Apartments Trade for Nearly $500K/Unit
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Mid-America Apartment Communities acquired Modera Liberty Row from Mill Creek Residential for $116.3 million. That works out to nearly $500,000 a unit.

Mill Creek developed Modera Liberty Row in partnership with Hawthorne Residential Partners. It has 239 units across two buildings at 7740 and 7741 Liberty Row Drive. The development has been renamed MAA Liberty Row.

Amenities include a pool, fitness center with yoga studio, multiple clubrooms, elevated courtyards, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa and bike storage.

The Charlotte Business Observer reports the project was expected to be delivered in spring 2024 before a massive fire destroyed the nearly completed development in May 2023. The building that caught fire was demolished to the concrete slab, and workers removed the wood frame from the second building because of severe charring on the sides facing the fire. Reconstruction began in January 2024, and residents began moving in last summer.

The post Former Burned Out Charlotte Apartments Trade for Nearly $500K/Unit appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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