The Laramar Group today announced that its Multifamily Value Fund has acquired the Waterford Lakes Apartments in Charlotte, N.C., for an undisclosed price.

The 694-unit property, located at 8000 Waterford Lakes Drive, is the 13th acquisition for the fund, which launched in December 2006. The unit mix includes one-, two- and three-bedroom apartments.

Property amenities include an on-property duck lake, tennis courts, two swimming pools, a fitness center, an indoor racquetball court, sand volleyball courts, a cinema room and a residential business center.

Laramar will upgrade the property with $4 million of improvements, including renovation of unit interiors with new kitchen and bath cabinets, addition of new amenities such as a new Internet Cafe, and exterior enhancements.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription