Dwell at Carmel

Dwell at Carmel was acquired on October 22, 2020. The property is centrally located in the South Park district within Charlotte, NC, known for housing North Carolina’s largest shopping mall, in addition to its reputation for upscale neighborhoods, luxury living and entertainment options. The operational strategy in-place for this asset is to add value through substantial interior and exterior upgrades, enhancing amenities and taking a more hands-on approach to management.

The property is comprised of 232 units built in 1978 and 1979. Apartment homes will undergo extensive interior renovations including stainless-steel appliances, vinyl plank flooring, modernized cabinets with new faux granite countertops, glass backsplashes, and new lighting and hardware. Amenities include swimming pool with sundeck, an outdoor fire pit, hammock garden, clubhouse, and dog park.

Quail Valley on Carmel is located in an excellent school district, upscale neighborhood retail is adjacent to the property, and several clusters of big-box retail, shopping and entertainment centers are within the submarket. SouthPark Mall, a 150+ store upscale shopping center, with names like Apple, Burberry, Louis Vuitton, Microsoft, Nordstrom, Tiffany & Co., is a 9-minute drive north of the property. There are several large office buildings, home to high paying jobs, surrounding the mall. Approximately 2.5 miles south of the property is a cluster of smaller office parks, restaurants, and big-box retailers such as Lowe’s Home Improvement, Walmart Neighborhood Market, Home Depot, and Sam’s Club.

Amenities:

• Resident Lounge
• Dog Park
• Outdoor Fire Pit
• Hammock Garden
• Swimming Pool
• Outdoor Kitchen