On August 29, Resource Apartment REIT III, Inc. (the "REIT"), through its operating partnership, completed the purchase of Matthews Reserve, an apartment community located in a diverse, growing suburb of Charlotte, North Carolina. Built in 1998, the 212-unit community features numerous amenities, including a swimming pool with sundeck, 24-hour fitness center, and expansive clubhouse.
Matthews Reserve sits one mile from US-Route 74, a major interstate with direct access to uptown Charlotte, the home of major corporations that employ over 85,000 area residents, including Atrium Health, Wells Fargo, Bank of America, and American Airlines.
Even closer to home, residents have access to attractive employment opportunities within two miles of the property, including Novant Medical Center and the corporate headquarters of Family Dollar and Harris Teeter. The community also sits within one mile of two major retail centers, restaurants, and entertainment options, and is a short drive from downtown Matthews’ main street storefronts.
Adding to its appeal to families, the property resides in an area known for its excellent public schools, with the assigned schools for Matthews Reserve all rating eight or higher out of a possible score of ten by GreatSchools.org.
The REIT’s Chief Executive Officer, Alan Feldman, believes the property’s location, expanding employment opportunities, and lifestyle amenities make it an attractive addition to the REIT’s portfolio.
"We are excited to acquire a community in the middle of it all, with a suburban location close to everything uptown Charlotte and an expanding metropolitan area have to offer," said Feldman.
About Resource Apartment REIT III, Inc.
Resource Apartment REIT III, Inc. intends to acquire and operate a portfolio of multifamily real estate throughout the United States. The REIT is sponsored by Resource Real Estate, LLC ("Resource"), which is a wholly owned subsidiary of C-III Capital Partners LLC, a fully integrated asset management and commercial real estate services company. Resource specializes in real estate investments that emphasize consistent value and long-term returns with an income orientation.
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