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Cortland Partners Pays $57 Million for Wren Northlake

Woodfield Sells Recently Completed 310-Unit Community in Charlotte
October 5, 2017
Cortland Partners, a real estate investment firm headquartered in Atlanta, has acquired a recently completed apartment complex in the Northlake area of Charlotte, NC for $57.25 million, or about $185,000 per unit.

Raleigh-based Woodfield Investment Co. wrapped up development this past January on Wren Northlake, a 310-unit, mid-rise apartment complex located at 8524 Mason Andrew Way in north Charlotte.

The complex is comprised of studio to three-bedroom apartments, ranging from 675 to 1,611 square feet, and incorporates such on-site features as a business center, clubhouse, fitness center, pool and concierge services.

Wren Northlake sits along I-485, which connects to I-77, and just south of Northlake Mall, a one million-square-foot modern shopping mall managed by Taubman Centers.

Dean Smith, Sean Wood, John Heimburger, Jason Kon, John Monroe and Alex Okulski of ARA Newmark represented Woodfield in the disposition.
Please see CoStar COMP #4018266 for more information on this transaction.
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