Capstone Negotiates $37.2M Sale of Apartment Complex in Metro Charlotte

GASTONIA, N.C. — Capstone Apartment Partners has negotiated the $37.2 million sale of Ashbrook Village, a 423-unit apartment complex in Gastonia. The property offers one- and two-bedroom floor plans averaging 754 square feet. Communal amenities include a saltwater pool, leasing office, clubhouse and two laundry facilities. The asset is situated at 2295 Pineview Lane, 20 miles west of downtown Charlotte. The community was 99.5 percent occupied at the time of sale. The seller, locally based Southwood Realty, developed the complex in 1985 and has owned and managed it since. Austin Green, Alex McDermott, Rhodes Marley and Brian Ford of Capstone represented the seller and procured the buyer, New York City-based Gindi Equities.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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