Q2 2012 Charlotte, North Carolina Apartment Property Sales Analysis

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Q2 2012 Charlotte, North Carolina Apartment Property Sales Analysis


The second quarter calmed down a bit for Charlotte apartment sales, Reis reports. After five first quarter sales totaling $65.5 million, Reis reports three sales totaling $74 million. The average price per unit was $88,000, while the mean cap rate was 5.8%. The 12 month rolling cap rate was 7.2%. The lead sale of the quarter was Magnolia Station, with 456 units, which sold for $36.5 million ($80,044 per unit).