US EditionNorthmarq Negotiates $41M Sale of Build-to-Rent Community in Monroe, North Carolina
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Northmarq Negotiates $41M Sale of Build-to-Rent Community in Monroe, North Carolina
MONROE, N.C. — Northmarq has negotiated the sale of Yardly Monroe, a 151-unit build-to-rent (BTR) community located in Monroe, roughly 30 miles outside Charlotte. Trevor Koskovich, John Currin, Jesse Hudson and Austin Jackson of Northmarq represented the seller, a joint venture between developer Taylor Morrison and equity partner Värde Partners. Faron Thompson and Grant Harris, also with Northmarq, originated $24.8 million in Freddie Mac acquisi…
FCP Buys for 151-Unit Monroe BTR Community
A joint venture of Taylor Morrison and Varde Partners sold a Charlotte-area build-to-rent community. The sales price of Yardly Monroe, a newly-built 151-unit cottage-style apartment community, was $41 million. FCP was the buyer of the project at 3380 Taylor Morrison Drive in Monroe, about 20 miles from Charlotte. FCP obtained a $24.75 million Freddie Mac permanent fixed financing. The interest-only transaction was structured with a five-year ter…
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