Junction 1504 | Charlotte, NC

Construction Type: 3-story garden

Units: 281 | Avg. Unit Size: 903 | Unit Mix: 1 BR (65%) 2 BR (35%)

Rentable Sq Ft: 253,785

Acreage: 11.50 | Density: 24.43 units/acre

Construction Start: November 2011

Status: Sold – December 2013

Total Project Cost: $31,850,000 |  Per Unit: $113,345

Sale Price: $59,000,000 | Per Unit: $209,964

Lender: Wells Fargo | Equity: Nationwide | Buyer: Invesco

Profit Margin: 82.9%

JV IRR: 167.5%

Affiliation: JLB Partners