July 20, 2021
Renovation planned for Class A, boutique infill apartment community as COVID restrictions lift
CHARLOTTE, NC (July 20, 2021) – EverWest Real Estate Investors has purchased a 178-unit, Class A multifamily community, The Mint, in Charlotte, North Carolina’s Uptown market. A real estate investor, manager and owner, EverWest will upgrade the property’s unit interiors, amenity spaces and exteriors.
“This acquisition allows EverWest to acquire a boutique mid-rise apartment community in the central business district of a top-performing growth market, and to capitalize on imbedded upside potential through a property renovation program and the post-pandemic recovery,” said EverWest Director of Southeast Acquisitions Tyler Williams. “The asset aligned well with our multifamily investment criteria, which targets high-quality, newer vintage product in walkable urban centers.”
EverWest purchased The Mint from Spectrum Companies. Allan Lynch and Caylor Mark with NorthMarq represented Spectrum Companies in the transaction.
The Mint is located at 425 W. Trade St. in Uptown Charlotte. The mid-rise apartment community totals seven stories and 161,723 rentable square feet, with an average unit size of 909 square feet. Delivered in 2015, The Mint features a brick, stone and stucco façade, and generous amenity spaces including a large fitness center, zen courtyard, resort-style swimming pool, resident clubhouse, sky lounge and dog run.
The EverWest improvement plan will modernize all amenity spaces at The Mint and upgrade unit interiors with new plank flooring, updated kitchen and bathroom cabinets, designer lighting and hardware fixtures, and a full technology package.
The project sits in an infill location, serviced by Interstates 77 and 277. The submarket is poised for growth as nearby Trade Street, Truist Field ballpark, Bank of America/Carolina Panthers football stadium and approximately 28 million square feet of office space re-open as pandemic restrictions lift.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. EverWest has $3.6 billion in assets under management as of first quarter 2021. The firm’s clients invest through separately managed accounts and commingled funds. EverWest is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is a wholly owned subsidiary of Canada-based GWL Realty Advisors. For more information, visit www.everwest.com or www.gwlra.com.