RK Properties Buys Newly Constructed Apartment Community in Charlotte
RK Properties, a sponsor of alternative private placements and Delaware statutory trust offerings, has purchased Alta Prosperity, a 292-unit multifamily property in Charlotte, North Carolina.
RK Properties, a sponsor of alternative private placements and Delaware statutory trust offerings, has purchased Alta Prosperity, a 292-unit multifamily property in Charlotte, North Carolina. The property name will be changed to Pointe at Prosperity Village per the contract agreement with the developer and will be offered to accredited 1031 exchange and straight capital investors as a Delaware Statutory Trust.
“We believe this asset is consistent with our disciplined underwriting criteria that meets the requirements of our investors for preservation of capital, reliable monthly income, appreciation, and tax benefits” said Steve King, chief operation officer of RK Properties.
King noted that RK Properties focuses on acquiring multifamily assets nationally in locations with strong historical rent growth.
Pointe at Prosperity Village is located close to Charlotte’s major employers, which includes six Fortune 500 headquarters and 12 Fortune 1,000 headquarters. The Charlotte Douglas International Airport is 25 minutes from the property.
Exterior amenities at the property include a saltwater pool with grilling area, 24-hour fitness center, gaming and entertainment lounge with Starbucks coffee bar and pool table. The property also has a business center and a dog park and pet spa. Interior amenities include stainless steel appliances, full-sized washers and dryers, walk-in closets and balconies and patios.
RK Properties has a 40-plus year track record in the multifamily market, and to date, has purchased and managed more than $1.5 billion in assets across the country.
