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Magma Equities, Prudent Growth Buy Metro Charlotte Apartment Community for $17.8M

The Oaks Apartment Homes is a 111-unit multifamily community located in the Charlotte suburb of Lincolnton, N.C.

LINCOLNTON, N.C. — A joint venture between Magma Equities and Prudent Growth Partners has purchased The Oaks Apartment Homes, a 111-unit multifamily community located in the Charlotte suburb of Lincolnton. The duo purchased the property from the undisclosed seller in an off-market transaction for $17.8 million. Built in 2002, The Oaks comprises one-, two- and three-bedroom apartments located on an 11.7-acre site. Community amenities include a fitness center, basketball court, grilling area, playground and a dog park. The community was 97 percent occupied at the time of sale.

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

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