OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Acquisitions, Inc. announced today that it facilitated the acquisition of Vanguard Northlake, a newly developed 204-unit multifamily property located in Charlotte, North Carolina. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate.
Located at 11010 Northlake Landing Drive in Charlotte, Vanguard Northlake consists of eight three-story buildings containing 60 one-bedroom, 108 two-bedroom and 36 three-bedroom units. Each unit includes granite countertops, gourmet kitchens, nine-foot ceilings, oversized walk-in closets, a nine-inch television built into the master bathroom mirror, a full size washer and dryer and a private balcony or patio. The property offers residents a variety of community amenities, including an outdoor saltwater swimming pool, a state-of-the-art fitness center, an outdoor grilling kitchen, a fireside lounge, a sundeck with cabanas, a dog park, bicycle storage and a business center.
“We are pleased to have closed on this high quality multifamily property ideally located in the Northlake area of Charlotte, which has strong demographics and has experienced substantial growth over the past few years,” said Tice. “We were particularly interested in the property due to Inland Real Estate Acquisitions’ history of facilitating two shopping center purchases in the Charlotte area, totaling more than 430,000 square feet. Having a previous knowledge and understanding of the Northlake area, combined with the town’s recent growth, made this an attractive acquisition.”
As of the acquisition date, the property was 95 percent leased.
To date, Inland Real Estate Acquisitions, Inc. has facilitated $44 billion of purchases including retail centers, apartments and single-tenant properties.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.