Atlanta/Charlotte, N.C. (October 4, 2019) – PENLER, a new multifamily real estate investment platform, just acquired its first asset in downtown Charlotte for approximately $55 million. PENLER also recently added two new partners to fill the key roles of Chief Financial Officer and Director of Asset Management. Plus, the firm expects to start its first development project next month.
The Atlanta-based firm acquired Presley Uptown, a 230-unit luxury property in Charlotte, N.C. on Monday, Sept. 30. JLL Income Property Trust was PENLER’s institutional investment partner in the transaction. Uptown is one of Charlotte’s most popular and fastest-growing neighborhoods. Located just off I-277, the pet-friendly community is near several shopping, dining and entertainment options as well as greenspace and major sports arenas. A Lynx Blue Line rail station and a new Whole Foods are within walking distance of the property.Continue reading “PENLER Makes First Multifamily Acquisition, Adds Partners, Plans Developments”