West Coast investor expands Charlotte-area footprint with $27.7M purchase in Fort Mill
A real estate investment company based in Kirkland, Washington, has made another acquisition in the Charlotte area.
Earlier this month, Weidner Apartment Homes purchased Palmetto Place Apartments in Fort Mill for $27.7 million, according to York County real estate records. The 184-unit apartment complex is Weidner’s third community in the Charlotte area and first in South Carolina. Weidner’s footprint in the Charlotte market has now grown to more than 1,000 multifamily units.
Palmetto Place is a garden-style community of one, two, and three-bedroom units with a total of 177,508 square feet of multifamily space. Built in 1996, the complex sits on 12.6 acres near S.C. Highway 160 and Gold Hill Road. Weidner purchased the community from Palmetto Residences LLC for approximately $150,380 per unit.
Weidner enters local market in 2023After purchasing the 400-unit Retreat at McAlpine Creek Apartments in South Charlotte. The firm purchased the asset from Chicago-based Waterton for $81.5 million. This acquisition was part of Weidner’s first foray into the East Coast market.
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