336-unit apartment deal in Charlotte

Area expected to remain a hot investment market

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Holliday Fenoglio Fowler recently closed the sale of Glen Hollow, a 336-unit multifamily community in Charlotte, N.C., for a price of $11.5 million. Juniper Investment Group sold the property to Advenir Real Estate Management. Glen Hollow, which is located at 4933 Central Ave., was renovated in 2005 and has one-, two- and three-bedroom units averaging 901 square feet each. Community amenities at the 89 percent occupied property include a pool, clubhouse, business center, fitness center and playground. "Charlotte is ranked as the number one city in the country for investing in apartment developments and is projected to maintain its top position for at least the next two years," said Jason Nettles, director of HFF's investment sales team. Holiday Fenoglio Fowler provides commercial real estate services out of 18 offices nationwide. ...