REBusinessOnline

Capstone Arranges $24.3M Sale of Apartment Community in Charlotte

CHARLOTTE, N.C. — Capstone Apartment Partners has arranged the $24.3 million sale of Arcadian Village, a 348-unit apartment community in Charlotte. Lerner & Co. Real Estate sold the property to an investment group with offices in New York and Miami. Brian Ford, Alex McDermott, Ron Corrao and Austin Green of Capstone brokered the transaction. The new owner plans to improve the community with added amenities and interior renovations. Constructed in 1970, Arcadian Village features two laundry facilities, a playground and an onsite leasing office.

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