Berkadia: Berkadia Negotiates Sale of Multifamily Development Site in Metro Charlotte, Buyer Plans 320-Unit Community

INDIAN TRAIL, N.C. - Berkadia has negotiated the sale of a 28.2-acre multifamily development site in Indian Trail, a southeast suburb of Charlotte. Caleb Troop and Thomas Colaiezzi of Berkadia's Charlotte office led the transaction on behalf of the seller, High Point, N.C.-based Royal Management. The buyer, a partnership between locally based The Spectrum Cos. and Chicago-based Heitman LLC, plans to develop a 320-unit apartment community on the site called Evoke at Indian Trail. TD Bank is providing construction financing for the project, which is located adjacent to The Shops at Sun Valley and across the street from a Publix-anchored shopping center. The construction timeline was not released.The post Berkadia Negotiates Sale of Multifamily Development Site in Metro Charlotte, Buyer Plans 320-Unit Community appeared first on REBusinessOnline.