RK Properties, a sponsor of alternative private placements and 1031 exchange offerings, has purchased Pointe at Research Park Apartments (formally known as Novel Research Park), a 280- unit multifamily property in Charlotte, North Carolina. The purchase price was not disclosed.
The property will be offered as a Delaware statutory trust offering to accredited 1031 exchange and straight capital investors.
Pointe at Research Park Apartments is located within Charlotte’s University submarket, the city’s second largest employment center with 75,000 jobs and 23 Fortune 500 companies.
Pointe at Research Park has one-, two-, and three-bedroom units each with full-size washer and dryers, walk-in closets, balconies/patios, stainless steel appliances, and 9-foot ceilings, among others. Property amenities include a saltwater pool with cabanas, an outdoor bar with televisions, a fitness center with yoga/fitness class studio and a separate child play area, a dog park, nature trails, and a hammock garden.
The property is located less than 5 minutes from University Research Park and half a mile from the newly announced headquarters of Centene Corp, a St. Louis-based healthcare administration company that plans to invest $1 billion in its campus and generate 6,000 new jobs.
RK Properties has a 40-plus year track record in the multifamily market. To date, the company has purchased and managed more than $1.5 billion in assets across the country.