Gamma Real Estate offloaded Laurel View Apartments, a 174-unit multifamily community in Concord, North Carolina. Southwood Realty acquired the property for $41.4 million.
Built in 2017 and situated on 11.3 acres, Laurel View offers renters one-, two- and three-bedroom floor plans with large patios or balconies.
Community amenities include a fitness center, swimming pool with cabanas, resident clubhouse and cyber café, outdoor entertainment areas and grilling stations, fire pit, pet park and spa, car wash station.Â
Northmarq’s Carolinas Investment Sales team, representing the seller, was led by Andrea Howard, John Currin, Austin Jackson, Jeff Glenn and James Dorsett.Â
Gamma Real Estate says its immediate predecessors have owned more than 25,000 residential units and 10 million square feet of office space nationwide. They purchase undercapitalized or mismanaged properties below replacement cost in submarkets with strong demographic trends.
Southwood Realty says it owns and manages communities across five states.
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