Northmarq’s Carolinas Investment Sales team announces $30 million sale of The Park at Ferentino
CHARLOTTE, N.C. (Jan. 3, 2024) — Northmarq’s Carolinas Investment Sales team of Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn have completed the sale of 216-unit multifamily community, The Park at Ferentino, for $30,888,000. Built in 1980, the property is located at 8061 Woodscape Drive in the Charlotte MSA. Northmarq represented the seller, Stonecutter Capital. The buyer was non-profit housing fund, Community Solutions.
“The sale of Park at Ferentino was a special transaction for our team and the City of Charlotte,” said Howard. “The new owner is a mission-driven fund seeking to reduce veteran homelessness and preserve affordability in the community, and this property is its first in Charlotte. Additionally, we are thrilled for our client on a successful sale during a challenging time in the capital markets.”
Located in the thriving city of Charlotte, The Park at Ferentino boasts a convenient location with nearby proximity to Highway 51, Interstate 485 and Providence Road providing quick access to the Charlotte MSA. Residents enjoy community amenities such as a resort-style pool, fitness center and yoga room, lake views and an abundant green space. In addition to easy access to Charlotte’s major thoroughfares, The Park at Ferentino is just five minutes from Meridian Place, a mixed-use community with 100,000 sq. ft. of retail and office space, and within 15 minutes of Uptown Charlotte.
The Park at Ferentino neighbors the 280-unit multifamily community, The Park at San Remo, which also recently sold for $39.2 million.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
