6C — December 24, 2021 - January 20, 2022 — Industry Experts — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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Industry Experts
Luxurymultifamily & 5-building industrial park added to growing North Carolina portfolio Red Bank, NJ's Denholtz Properties expands reach to The Southeast
K ANNAPOLIS AND GREENSBORO, NC — Denholtz Proper- ties announced the acquisition of Vida Apartments and Inter- state Commerce Park. Constructed in 2021, Vida Apartments boasts a diverse mix of studio, one, two and three-bedroom units.. Located in downtown Kan- napolis, the community is di- rectly above more than 18,000 s/f of privately-owned retail leased to a variety of tenants and a diverse range of dining, entertainment and shopping options can be found in the
Vida Apartments
Interstate Commerce Park
surrounding area. Highlight- ing the wide range of en- tertainment options nearby, Atrium Health Ballpark, a $52-million sports and enter-
Research Campus, a $1 billion, 350-acre life sciences campus occupied by eight university research programs working on the cutting edge of health sciences. The community also enables residents to easily enjoy all that makes the Charlotte met- ropolitan area one of the na- tion’s fastest-growing regions. Located adjacent to the Kan- napolis Train Station which offers a 30-minute direct train ride to downtown Charlotte and nearby Interstate 85, Vida Apartments provides residents with premier acces- sibility to all the region has to offer. “The Charlotte market’s combination of favorable busi- ness conditions, steady popu- lation growth and a high qual- ity of life continue to make us deeply optimistic about its short and long-term growth prospects,” said Stephen Cas- sidy , president of Denholtz Properties. “This acquisition will enable us to tap into the energy and dynamism that are defining the region as we create an unparalleled value creation opportunity for our investors.” The acquisition is Denholtz Properties’ second in North Carolina in 2021. The com- pany also recently acquired Interstate Commerce Park, a five-building, 218,570 s/f industrial park located in Greensboro., for $12.1 mil- lion from CIP Real Estate in September. JP Josephson , director of acquisitions for Denholtz Properties added, “We see the Southeast as a prime area of growth for Denholtz Proper- ties over the next several years. We are confident that our deep experience provides us with the ideal foundation to drive value through strategic real estate investment in the market and we look forward to further augmenting our port- folio in markets like Charlotte and Greensboro.” MAREJ
tainment venue that is home to the minor league affiliate of the Chicago White Sox, The Kannapolis Cannon Ballers, is less than a block away. In
addition to a diverse slate of restaurants, parks and other community amenities, the property is within walking distance of the North Carolina
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