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


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: 15 Jul 2020
Allan Lynch
Allan Lynch
Senior Director, Capital Markets
License details
Caylor Mark
Caylor Mark
Director, Capital Markets
License details
GA-372001 NC-303058 SC-116563

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Last Updated Date: 15 Jul 2020

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