The Milestone Group (Milestone) announces its acquisition of The Weathersby Apartments, a 180-unit, fully renovated, market-rate multifamily community at 8415 University Station Circle in Charlotte, NC. The purchase price was not disclosed.
“We are excited to add this fully-renovated community to our portfolio,” said Milestone Vice President of Acquisitions, Jason Wise in a statement. “Our team was able to efficiently source and execute this direct off-market acquisition and assume the existing financing, benefitting both Milestone and the seller by avoiding the loan prepayment penalty.”
The Weathersby features two-, three- and four-bedroom apartments located between two major job centers in North Charlotte. The community is located right off W.T. Harris Blvd and proximate to Uptown Charlotte, University City, and Northlake, with easy access to numerous shopping, restaurants, and other service retail. Community amenities include a swimming pool with a bi-level sundeck, a clubhouse, a 24-hour fitness center, a dog park, an outdoor kitchen, and picnic spaces. The modern, fully renovated and updated residences include quartz countertops, white cabinets, tile backsplashes, stainless steel appliances, faux-wood plank flooring throughout, custom closets, and washers and dryers in every unit.
