Capstone Apartment Partners Arranges $48M Sale of Willows at the University in Charlotte
CHARLOTTE, N.C. — Capstone Apartment Partners has arranged the $48 million sale of Willows at the University, a 255-unit apartment community approximately two miles from University of North Carolina at Charlotte. Capstone represented Charlotte-based developer and seller, Gateway Communities NC, and procured the buyer, Salt Lake City-based real estate investment firm Millburn & Co. Willows at the University is Millburn’s third Charlotte-area property. Alex McDermott, Caleb Troop and Bryse Toothaker of Capstone negotiated the deal. Willows at the University was completed in May 2019 and was approximately 95 percent occupied at the time of closing. The property features one-, two- and three-bedroom apartments in nine three- and four-story buildings. The gated community includes a swimming pool with sundeck, outdoor kitchen and grilling area, business center, fitness center, two dog parks and a theater/media room. The community is situated near Concord Mills shopping mall and PNC Music Pavilion.