Development

Apartments on Monroe Road have been sold for $29.5 million

Legacy Matthews
Legacy Matthews

A garden-style apartment community on Monroe Road has been sold to a new owner for $29.5 million.

Legacy Matthews, located at 1701 Gander Cover Lane, totals 288 units. A company affiliated with Dasmen Residential bought it in a deal that closed Thursday, real estate records show.

Dasmen Residential purchased it from a company affiliated with Ohio-based Goldberg Cos., a real estate investment firm. The sale was a tidy profit for Goldberg, which bought Legacy Matthews for $17.4 million in 2007.

The sale price for Legacy Matthews, located on nearly 22 acres, works out to about $102,000 per apartment. The apartments, across the street from Family Dollar’s headquarters, were built in 1988.

Jason Kon of ARA Newmark was the primary broker arranging the deal, while John Heimburger, Dean Smith, Sean Wood and John Munroe assisted.

Ely Portillo: 704-358-5041, @ESPortillo

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