CHARLOTTE, N.C. — LEO Impact Capital, JBG SMITH’s workforce housing investment management platform, has acquired Sharon Crossing, a 144-unit, garden-style apartment complex located in Charlotte. The $20.7 million acquisition, which marks LEO’s first transaction outside the Washington, D.C., region and the first investment from its newly launched LEO Impact Housing Fund, will preserve long-term affordability for Sharon Crossing’s middle-income residents.
Additionally, LEO Impact Capital is partnering with the Lotus Campaign, a North Carolina-based nonprofit organization that works to provide long-term housing for formerly homeless individuals, to reserve roughly 30 units for Lotus clients through its landlord participation program.
Sharon Crossing offers one- and two-bedroom apartments across 20 residential buildings. Community amenities include a resort-style swimming pool and sundeck, sports courts and a dog park. Residents also benefit from utility savings through green initiatives that emphasize energy efficiency and sustainability, according to company representatives. Ginkgo Residential will continue to provide onsite property management service on behalf of ownership.