Heatherwood Apartment Homes, a 476-unit multifamily property in Charlotte, has been acquired by Elco Landmark Residential, a real estate investment firm that owns and operates multifamily properties throughout the Southeastern United States.
The acquisition of Heatherwood is part of a larger transaction in which Elco Landmark Residential acquired a multifamily portfolio of four properties from Alabama-based Colonial Properties Trust for approximately $95.4 million.
Elco also acquired Colonial Village's Highland Hills, a 250-unit property built in 1987 and located in Chapel Hill.
Based in Tampa, Elco Landmark Residential is a real estate investment firm that owns interests in and operates 49 multifamily properties containing 15,175 units located throughout the Southeastern United States.
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