CBRE Funds $39.7M Acquisition Loan for Apartment Community in Southwest Charlotte

CHARLOTTE, N.C. — CBRE has provided a $39.7 million Freddie Mac acquisition loan for Arbor Steele Creek, a 384-unit apartment community in southwest Charlotte. The borrower, a joint venture between Charleston, S.C.-based Blaze Partners and Acre Valley Real Estate Capital, plans to continue interior and exterior renovations. The previous owner, a joint venture between Blaze Partners and True North Management Group, acquired the property in 2017 and began renovations. The complex comprises 16 three-story buildings. Communal amenities include a swimming pool, fitness center, business center, picnic areas with grilling stations, pet park, playground and a clubhouse.