Cushman & Wakefield Arranges More Than $16.19M Acquisition Financing of Two Townhome Communities

CHARLOTTE, North Carolina, April 11, 2022 – Cushman & Wakefield announced today that the commercial real estate services firm has arranged the $16.19 million acquisition financing on behalf of Wolf Multifamily Investments, LLC for two townhome communities – Timberstone Commons and Greenwood Village Townhomes.

Blake Cohen, Mike Ryan, JP Cordeiro, and Taylor Mathis of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the financing through Ready Capital.

“Timberstone and Greenwood offer immediate scale through their positioning less than three miles apart and are in a submarket that is experiencing some of the highest rent momentum in the Charlotte metro,” said Cohen, Senior Director at Cushman & Wakefield. “These favorable market fundamentals strongly position Wolf Multifamily Investments to execute their value-add strategy and maximize performance at these communities.”

Located at 2200-2212 Yorkhills Dr., Timberstone Commons features 89 units, 42 of which are HOA units due to an existing fractured condominium regime. Wolf Multifamily Investments acquired 69 units at the community, with plans to acquire the remaining 20 over the next two years. Greenwood Village Townhomes is located at 101 Ramblelake Rd. and features 24 units.

Both communities are in an extraordinary, transit-oriented location that offers unmatched connectivity. They are surrounded by a variety of large employers and retail/service establishments along with major transportation arteries like Highway 77, Highway 495, and Charlotte’s light rail service – the LYNX Blue Line.