Inland Affiliate Acquires Apartment Community in Charlotte for $31.7M

by John Nelson

CHARLOTTE, N.C. — Inland Real Estate Acquisitions Inc. has facilitated the purchase of Vanguard Northlake, a newly built, 204-unit apartment community located at 11010 Northlake Landing in Charlotte. Matthew Tice of Inland Real Estate Acquisitions facilitated the transaction on behalf of an Inland affiliate. According to the Charlotte Business Journal, an affiliate of Covington Realty Partners sold the asset to Inland for $31.7 million. Vanguard Northlake’s unit interiors include granite countertops, 9-foot ceilings, walk-in closets, TVs built into the master bathroom mirrors, washer and dryer units and private balconies or patios. Community amenities include an outdoor saltwater pool, fitness center, outdoor grilling kitchen, fireside lounge, sundeck with cabanas, dog park, bicycle storage and a business center. The property was 95 percent occupied at the time of sale.

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