Bain Capital Real Estate and Magnolia Capital today announced the acquisition of Highlands at Alexander Pointe, a garden-style and townhome multifamily apartment community located in the Charlotte, North Carolina metro area.
Highlands at Alexander Pointe consists of 309 units totaling 359,120 square-feet, and is located in the University City submarket of Charlotte.
“As one of the fastest growing metropolitan areas in the country, Charlotte is a high conviction market for us due to its strong fundamentals, highlighted by an abundance of top-tier employers,” said Kavindi Wickremage, a managing director at Bain Capital Real Estate. “We believe Highlands at Alexander Pointe is well-positioned to benefit from our strategic value-add approach, and we look forward to partnering with Magnolia Capital to strengthen and improve the
community.”
“We are excited to acquire Highlands at Alexander Pointe which very much represents our strategy of investing in well located assets with unique physical attributes,” added Maxwell Peek, CEO and managing principal of Magnolia Capital. “We look forward to executing our business plan, and look forward to the continued growth of our partnership with the team at Bain Capital Real Estate.”
Bain Capital Real Estate and Magnolia Capital formed a joint venture in November 2020 to acquire, renovate and operate value-added multifamily housing, with an initial focus on compelling Sunbelt markets.