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Accelerating success. Research & Forecast Report CHARLOTTE Q4 2017 | Multifamily Source: AXIOMetrics. RCA, CoStar Market Survey Results and Forecasts Sequential Month Annual 1Q17 2Q17 3Q17 4Q17 Dec-17 2015 2016 2017 2018F 2019F 2020F 2021F Effective Rent Per Unit $1,039 $1,063 $1,071 $1,053 $1,054 $987 $1,032 $1,056 $1,083 $1,123 $1,157 $1,183 Per Sq. Ft $1.08 $1.11 $1.12 $1.10 $1.10 $1.03 $1.07 $1.10 $1.13 $1.17 $1.20 $1.23 Effective Rent Growth - Annually 3.1% 2.7% 2.1% 1.5% 1.5% 5.4% 4.6% 2.4% 2.5% 3.8% 3.0% 2.2% Effective Rent Growth - Quarterly 0.1% 2.3% 0.8% -1.7% Occupancy Rate 94.9% 95.2% 95.4% 94.8% 94.5% 95.2% 95.4% 95.1% 95.2% 95.6% 95.0% 94.4% Occupancy Change - Annually -0.2% -0.5% -0.2% -0.5% -0.4% 0.6% 0.2% -0.4% 0.2% 0.3% -0.6% -0.6% Occupancy Change - Quarterly -0.4% 0.4% 0.2% -0.7% Economic Concessions Concession Value $-6.82 $-6.36 $-4.10 $-5.19 $-7.25 $-4.32 $-5.29 As a % of Asking Rent -0.7% -0.6% -0.4% -0.5% -0.7% -0.4% -0.5%

Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

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Page 1: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

Accelerating success.

Research & Forecast Report

CHARLOTTEQ4 2017 | Multifamily

Source: AXIOMetrics. RCA, CoStar

Market Survey Results and ForecastsSequential Month Annual

1Q17 2Q17 3Q17 4Q17 Dec-17 2015 2016 2017 2018F 2019F 2020F 2021F

Effective Rent Per Unit $1,039 $1,063 $1,071 $1,053 $1,054 $987 $1,032 $1,056 $1,083 $1,123 $1,157 $1,183

Per Sq. Ft $1.08 $1.11 $1.12 $1.10 $1.10 $1.03 $1.07 $1.10 $1.13 $1.17 $1.20 $1.23

Effective Rent Growth - Annually 3.1% 2.7% 2.1% 1.5% 1.5% 5.4% 4.6% 2.4% 2.5% 3.8% 3.0% 2.2%

Effective Rent Growth - Quarterly 0.1% 2.3% 0.8% -1.7%

Occupancy Rate 94.9% 95.2% 95.4% 94.8% 94.5% 95.2% 95.4% 95.1% 95.2% 95.6% 95.0% 94.4%

Occupancy Change - Annually -0.2% -0.5% -0.2% -0.5% -0.4% 0.6% 0.2% -0.4% 0.2% 0.3% -0.6% -0.6%

Occupancy Change - Quarterly -0.4% 0.4% 0.2% -0.7%

Economic Concessions Concession Value $-6.82 $-6.36 $-4.10 $-5.19 $-7.25 $-4.32 $-5.29

As a % of Asking Rent -0.7% -0.6% -0.4% -0.5% -0.7% -0.4% -0.5%

Page 2: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 2www.ColliersMultifamilyEast.com

Multifamily Absorption and Supply

Annual 4Q17 Annual Forecast

2014 2015 2016 Market National 2017 2018F 2019F 2020F 2021F

Total Units Absorbed 6,164 6,628 8,401 8,059 367,785 7,678 8,742 4,979 3,259 4,328

New Supply 5,772 5,914 9,046 8,982 365,158 8,982 8,177 4,811 5,106 5,888

Inventory Growth 3.7% 3.7% 5.4% 4.8% 1.5% 5.1% 4.4% 2.5% 2.6% 2.9%

Market Employment and Permitting

Annual November-17 Annual Forecast

2014 2015 2016 Market National 2017 2018F 2019F 2020F 2021F

Employment (000s) 1,066.2 1,108.8 1,149.5 1,195.6 148,507.0 1,177.8 1,203.0 1,227.2 1,247.3 1,263.2

Job Gain (000s) 37.2 42.6 40.7 20.1 2,114.0 28.4 25.2 24.2 20.1 15.9

Job Growth (%) 3.6% 4.0% 3.7% 1.7% 1.4% 2.5% 2.1% 2.0% 1.6% 1.3%

Total Residential Permitting 17,812 18,790 19,353 19,451 1,155,517 20,575 22,045 24,750 21,085 19,226

Relative Change 10.4% 5.5% 3.0% 4.0% 6.3% 6.3% 7.1% 12.3% -14.8% -8.8%

Single Family Units Permitted 11,157 11,742 12,989 13,126 756,569

Relative Change 7.5% 5.2% 10.6% 10.2% 10.2%

Multifamily Units Permitted 6,510 6,861 6,293 6,235 366,148

Relative Change 16.5% 5.4% -8.3% -7.4% -1.3%

Multifamily as a % of Total 36.5% 36.5% 32.5% 32.1% 31.7%

Demand/Supply Ratio Job Gain / Total Residential Units Permitted 2.3 2.4 2.2 1.1 1.9 1.5 1.2 1.1 0.8 0.8

Job Gain / Single Family Units Permitted 3.6 3.8 3.5 1.7 3.1

Job Gain / Multifamily Units Permitted 6.7 6.5 5.9 3.0 5.7

SUPPLY AND DEMANDAccording to the Bureau of Labor Statistics, job growth in Charlotte-Concord-Gastonia, NC-SC Metro Area was 1.7% in November 2017, reflecting 20,100 jobs added during a 12-month period. The metro job growth figure was above the national number of 1.4%.

Axiometrics forecasts Charlotte-Concord-Gastonia, NC-SC Metro Area’s job growth to be 2.1% in 2018, with 25,151 jobs added. Job growth is expected to average 1.6% from 2019 to 2021, with an average of 20,068 jobs added each year.

On the supply side, permits for 7,147 multifamily units were issued in the 12 months ending in November 2017, up 854 units from the prior year’s sum. In terms of total residential housing, 21,433 units were permitted in the 12 months ending November 2017, an increase of 2,080 units from the prior year’s total.

Page 3: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 3www.ColliersMultifamilyEast.com

IDENTIFIED SUPPLYAs of January 15, 2018, Axiometrics has identified 7,798 apartment units scheduled for delivery in 2017, which all units have been delivered. As a comparison, there were 8,172 apartment units delivered in 2016. Properties delivered to the market in the last 12 months have achieved an average asking rent of $1,424 per unit, or $1.54 per square foot. Effective rent has averaged $1,323, or $1.43 per square foot, resulting in an average concession value of $-100.22. As a comparison, existing properties in the market had an average asking rent of $1,058 per unit ($1.10 per square foot) and an average effective rent of $1,053 per unit, or $1.10 per square foot, in 4Q17. Concessions for existing properties averaged $-5.19.

Submarket Delivery Schedule

Pipeline Delivery Schedule Pipeline Lease Up Trend

Units Absorbed Asking Rent Effective Rent

Top Submarkets 2015 2016 2017 Total Totals PPM Per Unit PSF Per Unit PSF Concord/North Concord 213 243 577 1,033 318 15 $1,376 $1.19 $1,246 $1.08

Downtown 703 625 1,278 2,606 505 7 $1,927 $2.25 $1,723 $2.01

N. Tryon St. - The Plaza 182 317 910 1,409 625 15 $1,418 $1.74 $1,343 $1.65

North Pineville 729 1,059 1,128 2,916 723 10 $1,206 $1.16 $1,172 $1.12

ROCK HILL 1,084 758 645 2,487 490 13 $1,449 $1.63 $1,373 $1.55

Other 2,470 5,170 3,260 10,900 3,251 11 $1,375 $1.45 $1,280 $1.35

Charlotte-Concord-Gastonia, NC-SC 5,381 8,172 7,798 21,351 5,912 11 $1,430 $1.54 $1,333 $1.44*Based on 2017 deliveries *Trend based on a trailing 12 month period

Page 4: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 4www.ColliersMultifamilyEast.com

Date Property Name Address City Units Year Built Price in $ $/Units

Dec-17 Enclave at Bailes Ridge 1004 Bailes Ridge Ave Lancaster 246 2014 44,200,000 179,675

Nov-17 Aspen Peak 8625 Winter Oaks Ln Charlotte 384 1985 49,650,000 129,297

Nov-17 Willow Glen 211 Garden Way Rock Hill 96 1970 4,600,000 47,917

Nov-17 Fields at Patriot Parkway 709 Patriot Pkwy Rock Hill 106 1994 10,525,000 99,292

Oct-17 Tryon Park at Rivergate 12620 Toscana Way Charlotte 202 2014 32,724,000 162,000

Oct-17 Legacy Grand at Concord 1940 Trinity Church Rd Kannapolis 240 2009 32,900,000 137,083

Oct-17 The Meadows at Russell 501 Russell St Statesville 100 1976 4,500,000 45,000

Oct-17 Country Club Arms 1755 Cedar Post Ln Rock Hill 80 1974 4,000,000 50,000

Oct-17 Biscayne Apartments 3407 Biscayne Dr Charlotte 54 1993 4,114,999 76,204

Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167

Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte 240 2014 35,625,000 148,438

Oct-17 Hunters Pointe Apartments 1841-B Prospect Dr Charlotte 386 1974 22,100,000 57,254

Oct-17 Rosecroft Apartments 7204 Rose Terrace Ct Charlotte 60 2004 3,415,000 56,917

Oct-17 The Arboretum 7700 Arboretum Dr Charlotte 277 1989 46,750,000 168,773

Sep-17 Wren Northlake 8524 Mason Andrew Wy Charlotte 310 2016 57,250,000 184,677

Sep-17 Northwoods Townhomes 2600 Celanese Rd Rock Hill 76 1975 5,315,000 69,934

Sep-17 Brittany Woods 1636 Chippendale Rd Charlotte 84 1986 4,250,000 50,595

Sep-17 Cardinal Pointe 1711 Wallick Ln Rock Hill 64 2003 3,600,000 56,250

Aug-17 Berkeley Place 500 Solano Dr Charlotte 368 2001 52,450,000 142,527

Aug-17 Pavilion Village 131 Gracyn Olivia Dr Charlotte 294 2016 44,690,000 152,007

Aug-17 Stone Gate Apartments 950 Southwood Oaks Ln Charlotte 144 2000 12,650,000 87,847

Aug-17 Tower Place 100-700 And 51 Tala Dr SW Concord 128 2000 9,950,000 77,734

Aug-17 Park Lane 1610-1641 Waybridge Ln Charlotte 60 1998 6,100,000 101,667

Aug-17 Grand Terraces 6000 Regal Estate Ln Charlotte 240 1999 24,000,000 100,000

RECENT SALES

WE CAN HELPAs an investor in multifamily properties, you need a firm that provides experience, broad reach and the ability to market an asset no matter how challenging the economic environment. You need a team that specializes in your market you need The East Region Multifamily Advisory Group.

Colliers International has one of the largest and most experienced teams in the industry, strategically located in key markets throughout North America. Our combination of market dominance, expertise, and singular focus, make us uniquely successful in helping our clients achieve their disposition objectives.

How are we able to bring together the skills and tools necessary to complete challenging assignments? Our East Region Multifamily Advisory Group is connected by purpose and focus. Our team is dedicated to sharing information on market opportunities, capital sources and buyers/sellers to achieve the best results for our clients.

Page 5: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 5www.ColliersMultifamilyEast.com

DOWNTOWN CHARLOTTE

GREATER CHARLOTTE

Downtown Charlotte

PIPELINE MAP

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Page 6: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 6www.ColliersMultifamilyEast.com

PIPELINE DETAIL# Name Status Owner Address Market UnitsProposed

1 Brooklyn Village North Proposed County Of Mecklenburg 800 E 3rd St Uptown Charlotte MF 6752 417 W 24th St Proposed Mrec Vision Northend Llc 417 W 24th St Tryon Hills MF 2953 The Walden Proposed Lat Purser & Associates, Inc. 1700 Abbey Pl Madison Park MF 1304 Lemmond Farm Proposed Js Helms Family Properties Llc 11901 Albemarle Rd Bradfield Farms MF 4255 Hazel SouthPark Proposed ZOM, Inc. 4401 Barclay Downs Dr Barclay Downs MF 2036 ONEBrookhill Proposed Brookhill Land Llc 409 Basin St Brookhill MF 4107 14624 Birnamwood Ln Proposed Mcauley Troy James 14624 Birnamwood Ln Pleasant Hill Road MF 2808 13632 Brown Grier Rd Proposed Trotter Properties 13632 Brown Grier Rd Olde Whitehall MF 2929 Carver Cove Apartments Proposed Diannon Development Group, LLC 2619 Carver Cove Ln West Blvd MF 10910 NRP Development Proposed The NRP Group, LLC 244 N Chase St Elizabeth MF 14011 Vermillion Village Proposed Vermillion Anchor Mill Village 404 N Church St Outer Huntersville/Cornel 40012 Market 42 Proposed Ninth Street Investors Llc 524 N College St Uptown Charlotte MF 43213 Preserve at Mountain Island Proposed Blue Ridge Companies Cooks Way Dr Mountain Island MF 24014 3911 David Cox Rd Proposed Jean Davis 3911 David Cox Rd West Sugar Creek MF 14415 Alta Purl II Proposed Realestate Investment Corp Llc 1005 N Davidson St Optimist Park MF 31016 Miller-Valentine Optimist Park Proposed Southeast Lighting, Inc. 1821 N Davidson St Optimist Park MF 27517 2715 N Davidson St Proposed Martin Newton D 2715 N Davidson St North Charlotte MF 14718 Davidson East Proposed Lawrence Group 17002 Davidson-Concord

RdOuter Huntersville/Cornel 243

19 Southbridge Mixed Use Proposed Cato Land Development, Llc 2280 Deerfield Dr Outlying York County MF 24020 240 Doggett St Proposed Asana Partners 240 Doggett St Wilmore MF 10021 2205 Dunavant St Proposed Faison & Associates, LLC 2205 Dunavant St Brookhill MF 36822 East Craighead Rd Proposed Flywheel Group East Craighead Rd Sugaw Creek MF 30123 301 Eastway Dr Proposed Mai Da D 301 Eastway Dr Eastway MF 13224 North Community House

ResidencesProposed Equitable Realty & Mortgage Inc 6915 Endhaven Ln Whiteoak MF 200

25 1801 Freedom Dr Proposed Griffith Real Estate Services 1801 Freedom Dr Ashley Park MF 28026 Movement on Freedom Proposed The Movement Foundation Inc 2615 Freedom Dr Ashley Park MF 18527 2900 Governor Hunt Rd Proposed Crescent Resources Inc 2900 Governor Hunt Rd Mallard Creek-Withrow Dow 22528 Greenwood Cliff Rd Proposed Pappas Properties, LLC Greenwood Cliff Rd Dilworth MF 10029 Vibrant Ashley Park Proposed Ashley Road Holdings Llc 101 Joy St Westerly Hills MF 13230 Raley Miller Redevelopment Proposed Levin Properties, Inc. 4208 Knob Oak Ln Foxcroft MF 22531 Mallard Creek Rd Proposed The High Companies Mallard Creek Rd Mallard Creek-Withrow Dow 26032 Bainbridge Research Park Proposed Summit Avenue Urp, LLC 8975 Mallard Creek Rd Mallard Creek-Withrow Dow 31533 The Village at Concord Mill Proposed Spectrum Companies 12401 Mallard Creek Rd Mallard Creek-Withrow Dow 32234 13109 Mallard Creek Rd Proposed Davis Development 13109 Mallard Creek Rd Mallard Creek-Withrow Dow 23435 West Mallard Creek Church

Road ApartmentsProposed Browder Group Real Estate, LLC W Mallard Creek Church

RdMallard Creek-Withrow Dow 395

36 The Village at Research Park Proposed Mecklenburg County North Carolina

1995 W Mallard Creek Church Rd

Mallard Creek-Withrow Dow 300

37 2615 W Mallard Creek Church Rd

Proposed Crescent Resources Inc 2615 W Mallard Creek Church Rd

Mallard Creek-Withrow Dow 115

38 University City Blvd Station Proposed Ucam-1 LLC 704 McFarlane Blvd Mineral Springs MF 31039 801 McNinch Proposed Tribute Companies 801 McNinch St Uptown Charlotte MF 21240 Proximity Matthews Proposed Friesell Jon H 10252 Monroe Rd Matthews MF 25041 Alliance Morehead Proposed Honey Properties, Inc. 109 W Morehead St The South End MF 27542 Riverbend Village Proposed Schulman & Beard Commercial RE 3822 Mt Holly-Huntersville

RdMountain Island MF 600

43 Granite Pointe Apartments Proposed Pedcor Investments 9101 Nations Ford Rd Outer South Charlotte MF 19844 6010 Piedmont Row Dr S Proposed American Asset Corporation 6010 Piedmont Row Dr S Beverly Woods MF 40045 Towne Centre Apartment

HomesProposed R. Dean Harrell 100 Plyler Rd Union County MF 378

46 Proximity at Northlake Proposed RK Investors 8666 Reames Rd Northlake MF 23547 The Haven at Regent Park Proposed TBC Property Management, LLC 5055 Regent Pky Outlying York County MF 28848 The Colony Redevelopment Proposed SYNCO Properties Inc. 3601 Roxborough Pkwy Dr Barclay Downs MF 990

Page 7: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 7www.ColliersMultifamilyEast.com

49 1931 Salome Church Rd Proposed Blue Ridge Companies 1931 Salome Church Rd Mallard Creek-Withrow Dow 22850 Apex - Residential Proposed Childress Klein 4411 Sharon Rd Foxcroft MF 45051 Dilworth Redevelopment Proposed Charlotte Housing Authority 1301 South Blvd Dilworth MF 72552 Scaleybark Station Proposed Pappas Properties, LLC 3610 South Blvd York Road MF 44053 Steele Creek Crossing Proposed City of Charlotte Real Estate Div. 9605 Steele Creek Rd Olde Whitehall MF 20054 Steele Creek Rivergate Apts Proposed MPV Properties, LLC 14400 Steele Creek Rd Yorkshire MF 41055 Brooklyn Village South Proposed County Of Mecklenburg E Stonewall St Uptown Charlotte MF 39556 W Sugar Creek Rd Proposed City of Charlotte Real Estate Div. W Sugar Creek Rd Hidden Valley MF 18057 Hall House Proposed Charlotte Housing Authority 426 N Tryon St Uptown Charlotte MF 19158 Old Concord Station - North

TryonProposed Tdk Inc 5635 N Tryon St Hidden Valley MF 204

59 Savona Mill Proposed Argos Real Estate Advisors 528 S Turner Ave Smallwood MF 80060 Trevi Village Proposed G-Squared Property Management 12220 U.S. Highway 29 Harris-Houston MF 15961 Atapco Apartment Project Proposed Atapco Properties, Inc. 8310 University Executive

Park DrMineral Springs MF 280

62 NorthLake Seniors Proposed Northlake Southstar, LLC 1525-1689 W W.T. Harris Blvd

Northlake MF 75

63 Laurel Street Affordable Proposed Laurel Street Residential 2327 West Tyvola Rd Eagle Lake MF 20064 Broadstone Bryant Park Proposed Suttle Avenue Llc 2016 Wilkinson Blvd Ashley Park MF 35065 1351 E Woodlawn Rd Proposed Thomas P III & Betty Q Moore 1351 E Woodlawn Rd Ashbrook-Clawson Village 26566 Design Center Charlotte Proposed Asana Partners 100 W Worthington Ave Wilmore MF 29667 Farmington Development Proposed Rocky River Road Associates Llc 5951 Rocky River Rd Back Creek Church Road MF 695

Units 20,258

Under Construction68 436 E 36th St Under Construction Flywheel Group 436 E 36th St North Charlotte MF 18069 Allen Street Housing Under Construction St Paul Baptist Church Inc (TE) 1301-1321 Allen St Belmont MF 11270 Blu at Northline - Phase II Under Construction Panorama Holdings 2508 April Yixuan Ln Hidden Valley MF 19471 Overture Providence Under Construction Greystar Real Estate Partners 6300 Ardrey Kell Rd Providence Crossing MF 17572 Whitehall Crossing Under Construction MPV Properties, LLC 2600 W Arrowood Rd Olde Whitehall MF 9673 Whitehall Village Apartments Under Construction Dominion Realty Partners, LLC 2720 W Arrowood Rd Olde Whitehall MF 31874 WaterWalk Hotel Apartments -

Pinnacle PointUnder Construction WaterWalk 9140 Arrowpoint Blvd Yorkmount MF 138

75 Horizons at Steele Creek - Phase II

Under Construction The Carroll Companies 10615 Beckstone Dr Steele Creek MF 120

76 Tenth Street Apartments and Deck

Under Construction Levin Properties, Inc. 707 N Brevard St Uptown Charlotte MF 200

77 Parkwood Station Under Construction Parkwood Residences Llc 1708 N Brevard St Optimist Park MF 30978 The Optimist Park Under Construction Wood Partners 2104 N Brevard St Optimist Park MF 26179 Alta Prosperity Village - Phase II Under Construction Wood Partners 7304 Brice Knoll Ln Davis Lake-Eastfield MF 23680 Overton Row Under Construction The Carlyle Group 1201 Central Ave Plaza Midwood MF 34981 Midwood Station Under Construction DPJ Residential 2017 Central Ave Plaza Midwood MF 9782 Capital Crossing at Whitehall Under Construction TWO Capital Partners, LLC 9214 Christy Joy Dr Griers Fork MF 27183 District South - Phase II Under Construction Flournoy Companies 12600 District South Dr Ballantyne MF 33784 Becket Farms - Phase II Under Construction Miller-Valentine GEM Real Estate

Group, LLC1111 Gennett Cir Outlying York County MF 183

85 Greenside Under Construction Armada Hoffler Properties, Inc. 1301 Harding Pl Dilworth MF 25586 The Lofts at Hawthorne Mill Under Construction Clachan Properties LLC 1101 Hawthorne Ln Belmont MF 15087 Laurel View Under Construction The Gateway Companies 350 Joshua Pl NW Cabarrus Country Club MF 17488 The Lincoln at Dilworth Under Construction Lincoln Property Company 905 Kenilworth Ave Dilworth MF 37989 Rodden Square Apartments Under Construction Connelly Builders 6520 Mallard Creek Rd Mineral Springs MF 9890 Arlo Under Construction ArchCo Residential 1331 W Morehead St Wesley Heights MF 28791 Skybrook Apartment Homes Under Construction Blue Ridge Companies 90 Oak Hill Ct Outlying Cabarrus County 26892 Evolve at Tega Cay Under Construction Evolve Companies 3050 Old Farm Rd Outlying York County MF 26093 The Adley at Bryton Under Construction American Asset Corporation 11600 Old Statesville Rd Outer Huntersville/Cornel 30094 Crescent Montford Park Under Construction Crescent Communities, LLC 4701 Park Rd Madison Park MF 337

# Name Status Owner Address Market Units

PIPELINE DETAIL, continued

Page 8: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 8www.ColliersMultifamilyEast.com

# Name Status Owner Address Market Units

PIPELINE DETAIL, continued

95 Riverwalk Apartments Phase II Under Construction Mark Mather 517 Pink Moon Dr Outlying York County MF 16696 Station at Poplar Tent - Phase II Under Construction Tynes Development 50 Poplar Station Cir Outlying Cabarrus County 17497 Providence Row Under Construction Northwood Investors LLC 3906 Providence Rd Foxcroft MF 32698 The Links at Rea Farms Under Construction Lincoln Harris 11500 Providence Rd Providence Crossing MF 45599 Novel Providence Farm - Phase

IIUnder Construction Crescent Communities, LLC 6408 Providence Farm Ln Providence Estates East M 282

100 Revere at Tega Cay Under Construction Gross Residential 260 N Revere Cv Outlying York County MF 336101 Inspire SouthPark Under Construction Grubb Properties 345 Sharon Township Ln Myers Park MF 367102 Novel Atherton Under Construction Crescent Communities, LLC 2100 South Blvd Dilworth MF 346103 Bainbridge South End Under Construction The Bainbridge Companies 2670 South Blvd Sedgefield MF 200104 Novel Stonewall Station Under Construction Crescent Communities, LLC 400 E Stonewall St Uptown Charlotte MF 459105 Kingsley Apartments Under Construction Clear Springs-ktc Llc 287 Textile Way Outlying York County MF 85106 500 W Trade St Under Construction Crosland 500 W Trade St Uptown Charlotte MF 400107 Pollack Shores South End Under Construction Pollack Shores Real Estate Group 327-349 W Tremont Ave Brookhill MF 350108 University City Gateway Under Construction Oxford Gateway Apartments Llc 7232 N Tryon St Newell South MF 322109 Sycamore at Tyvola Under Construction Switzenbaum & Associates 1 Tyvola Centre Dr Yorkmount MF 228110 Haven Charlotte Under Construction Haven Campus Communities 9200 University City Blvd College Downs MF 332111 The RailYard Under Construction Browder Investments Llc 118 Winona St The South End MF 100112 NoDa at 27th Under Construction Ram Realty Services 2300 N Davidson St Villa Heights MF 250113 New Bern Station Under Construction Pepsi Bottling Ventures, LLC 2820 South Blvd Sedgefield MF 423114 Uptown 550 Under Construction Northwood Ravin 550 E Stonewall St Uptown Charlotte MF 421115 Montage Under Construction The Walsh Group 650 E Stonewall St Uptown Charlotte MF 302

Units 12,208

Total Units 32,666

Page 9: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

COLLIERS INTERNATIONAL MULTIFAMILY ADVISORY GROUP P. 9www.ColliersMultifamilyEast.com

OUR PROVEN TRACK RECORDRecent Closings

WHO WE AREOne of the largest and most

experienced teams of multifamily

specialists in the industry

Units sold since 2011

39,000MORE THAN

Group gross transaction value in since 2011

$2.8B

Dedicated Multifamily Professionals & Advisors

50MORE THAN

Expansive geographic footprint

24COVERING OVER

STATES

Oaktree ApartmentsDurham, NCUnits: 24

Sommerset PlaceRaleigh, NCUnits: 144

Falcon Pointe ApartmentsWinston Salem, NCUnits: 120

Arbor TownhomesGreensboro, NCUnits: 150

Arlington West ApartmentsJacksonville, NCUnits: 324

Eagle PointDurham, NCUnits: 323

Teal PointCharlotte, NCUnits: 216

Wolf Creek ApartmentsRaleigh, NCUnits: 385

Oakview TerraceHigh Point, NCUnits: 150

Geneva Park ApartmentsCary, NCUnits: 248

Hidden LakesGreensboro, NCUnits: 483

Fiddlers CreekWinston-Salem, NCUnits: 160

Tower PlaceCharlotte, NCUnits: 128

Stone GateCharlotte, NCUnits: 144

Park LaneCharlotte, NCUnits: 60

Page 10: Research & Forecast Report · Oct-17 Briar Creek Apartments 1419-1431 Briar Creek Rd Charlotte 66 1995 5,885,000 89,167 Oct-17 Highland Park at Northlake 7116 Finn Hall Ave Charlotte

www.ColliersMultifamilyEast.com

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