Passco Companies, LLC, a real estate investment firm based in Irvine, Calif. specializing in the tenant-in-common investment structure, has acquired The Enclave at Rivergate, a 216-unit, Class A apartment complex in Charlotte, NC.
Located at 12400 Toscana Way, this luxury apartment community is in a dynamic growth area of Charlotte’s Metropolitan Service Area and in close proximity to I-77 and I-485 and the Charlotte Douglas International Airport.
“This is a distinctive apartment community with an exceptional location, just minutes from the best Charlotte has to offer,” said Winn. “Residents enjoy spacious apartment homes with luxurious appointments in a relaxing, small-town atmosphere with outstanding schools and location that also offers convenient access to big-city amenities, as well,” he added.
The Enclave at Rivergate is nearby a variety of shopping, dining and entertainment options, as well as recreational opportunities at McDowell Park, Lake Wylie and the U.S. National Whitewater Center. It also is just a short drive to the Carowinds amusement park and downtown Charlotte’s cultural and entertainment amenities, including the Levine Center for the Arts, home to the Knight Theater and Bechtler Museum of Modern Art.
Completed in 2009, this quality-constructed complex offers one-, two- and three-bedroom apartment homes, ranging in size from about 900 to 1,500 square feet. Features include modern gourmet kitchens with dark-oak custom cabinetry and energy-efficient, black appliances; sunrooms; built-in computer desks; double-vanity sinks in bathrooms; ceiling fans in master bedroom and sunroom; spacious walk-in closets; washer/dryer hookups; and a private balcony or patio.
Southeast Apartment Partners, a regional real estate brokerage firm, represented the seller.
This is Passco’s second Class A multifamily acquisition within a two-week period, Winn noted. The company also recently closed on The Glen at Alexander, a 216-unit luxury apartment complex in an affluent Augusta, GA.