Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 2019
Building Area
Occupancy 41.0 %

Property Description

238 Unit Mid-Rise Apartments built in 2019

Investment Highlights

  • JLL has been retained as the exclusive sales
  • representative for Alexan Optimist Park in
  • Charlotte, North Carolina. Alexan Optimist Park
  • (or the “Property”) is a 2019-vintage, 238-unit
  • luxury midrise community built by Trammell Crow
  • Residential (TCR). TCR is one of the most prolific
  • multifamily developers in the nation with more
  • than 40 years of experience building 250,000+
  • premier multifamily residences. Their proficiency
  • and attention to detail is evident at Alexan Optimist
  • Park, from the floorplans meticulously designed
  • for urban renters to the exposed brick walls and
  • rustic decor that is authentic to the submarket’s
  • history. In the face of COVID-19, Alexan Optimist
  • Park maintained a stellar lease-up pace, averaging
  • 14 move-ins per month throughout the 2.5-month
  • government-mandated quarantine. In addition,
  • collections have remained greater than 97% each
  • month, a testament to the resiliency of the rent roll
  • to COVID-19.
  • Alexan Optimist Park is located within Charlotte’s
  • Mill District, a former textile manufacturing area
  • which has blossomed into an urban mixed-use
  • destination. The Mill District boasts the newly
  • opened Optimist Hall (147K square foot repurposed
  • mill with food hall, creative office space, and
  • restaurants) at Alexan Optimist Park’s front door.
  • Optimist Hall has been a catalyst for growth in the
  • submarket and will propel rent growth on second
  • generation leases. Moreover, Alexan Optimist Park
  • sits alongside the Blue Line Light Rail, connecting
  • Charlotte’s largest employment centers. Residents
  • can easily commute to Uptown (115K employees),
  • South End (16.5K employees), and University (75K
  • employees). Spanning onsite quality to high-growth
  • location, Alexan Optimist Park offers investors
  • an exciting opportunity to acquire a true best-inclass
  • asset with compelling growth potential at the
  • property, submarket and MSA-level.
Last Updated Date: 30 Sep 2020
Allan Lynch
Allan Lynch
Senior Director, Capital Markets
License details
NC-277156
Caylor Mark
Caylor Mark
Director, Capital Markets
License details
GA-372001 NC-303058 SC-116563

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Last Updated Date: 30 Sep 2020