Abode at Parkside

Charlotte, NC

Multifamily Refinance

Abode at Parkside

MULTIFAMILY REFINANCE

ACRES Commercial Realty Corp. announced today that it has funded a $28.1 million loan to refinance Abode at Parkside, a 104-unit townhome apartment complex, located in Charlotte, North Carolina.

The Property consists of:

• Spans approximately 11.67 acres
• 21 two-story buildings
• All are three-bedroom, 2.5-bath units averaging roughly 1,588 square feet and featuring attached one-car garages
• Includes stainless steel appliances, quartz countertops, tile backsplashes, LVP flooring, smart-home technology, and in-unit washer/dryers
• Complemented by community green spaces and pocket parks.
• Parking totals 300 spaces (196 surface and 104 garage), or approximately 2.88 spaces per unit

$28 Million

Loan Amount

Refinance

Loan Product

“Abode at Parkside is precisely the type of asset we seek for our portfolio – a modern and well-amenitized apartment complex in a high-growth market. Partnering with experienced sponsors in a strong submarket positions this loan for durable performance as fundamentals tighten and demand remains resilient.”

- Mark Fogel

Chief Executive Officer and President of ACRES

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.