Gamma Real Estate Snaps Up Another Charlotte Apartment For Nearly $31M
CLT Whitehall, an arm of New York-based Gamma Real Estate, acquired the 250-unit Whitehall Estates Apartments for $30.9M. The property is on more than 18 acres on West Arrowood Road and South Tryon S; the seller was Grove Associates L.P., which is affiliated with Yager Construction, the Charlotte Business Journal reports.
Whitehall Estates is a long-term, mixed-use development that is still underway 20 years after it started. Current developments at the site include a 65k SF Topgolf facility and another apartment property: Capital Crossing at Whitehall, which TWO Capital Partners broke ground on nearly a year ago.
Gamma owns other apartments in Charlotte: Elements, Lakeside and Runaway Bay.