CHARLOTTE, NORTH CAROLINA
Three30Five Apartments consists of 164 units in Charlotte’s historic South End neighborhood. The property is walkable to the LYNX light rail, restaurants and breweries, convenient local shopping, and some of Charlotte’s best art galleries. Three30Five is also minutes from Uptown Charlotte, I-77, and the airport, making it an ideal location for professionals and urban dwellers seeking a relaxed vibe with convenient access.
Ram acquired the apartment community in an off-market transaction in May 2018 and separately acquired the adjacent land parcel (also off market) in November 2018. The residential building has undergone a modest renovation, which included updating all common areas and amenities, the courtyard and signage. Additionally, the units are being renovated as leases turn. Ram constructed urban walkable retail (16,000 sf) and creative office (43,000 sf) on the adjacent parcel, utilizing existing apartment parking, to create a mixed-use environment.
The commercial component was sold July 2021 to Asana Partners. The residential component was sold September 2021 to a NYSE-traded multifamily REIT.