Charlotte, NC (PRWEB) April 07, 2017
Atlanta-based TriBridge Residential, LLC has purchased Morehead West apartments located at 1932 W. Morehead Street in Charlotte's FreeMoreWest neighborhood. The $31,500,000 acquisition consists of 211 apartments and approximately 5,600 square feet of commercial space. LCRE Partners will lease the commercial building.
"We are very pleased to acquire a quality apartment community in a neighborhood we feel is poised for exciting growth," said Yates Dunaway, Vice President of Acquisitions for TriBridge. "FreeMoreWest seems to have new retail, commercial, and residential projects announced almost weekly," he said. TriBridge will manage the property as well. This is TriBridge's fourth acquisition in Charlotte.
TriBridge Residential owns and manages approximately 8,000 multi family units across the southeast. Over the past 25 years, TriBridge and its affiliates have acquired and built over $3 billion in real estate.