The Arboretum Sells for $32 Million National Apartment Developer - TopicsExpress

The Arboretum Sells for $32 Million National Apartment Developer Acquires Charlotte Multifamily Complex By Nick Paige May 30, 2014 The Connor Group, an Ohio-based luxury apartment owner and operator, acquired the 277-unit Arboretum Apts. in Charlotte, NC from Simpson Property Group, LP for $32.25 million, or about $116,000 per unit. The community was developed in 1989 and consists of 34 two-story buildings situated on 26.83 acres, according to CoStar information. The community was approximately 95% occupied at the time of sale. Blake Okland, Sean Wood, Dean Smith and John Heimburger of Apartment Realty Advisors represented the seller. Please see CoStar Comps #3035121 for more information on this transaction.

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