A recent sale has taken place at an apartment complex located on George W. Liles Parkway in Concord. The Tower Place Apartments were sold for $22.3 million to Silverado Interests, with the previous owner being GVA. This 128-unit complex was originally purchased by GVA in 2022 from Cedar Grove Capital for $27.6 million.
The transaction included two parcels of land totaling almost 23 acres, with the apartments occupying a portion of 15 acres and a vacant parcel of 7.6 acres also being part of the sale.
According to their website, Silverado specializes in providing equity capital for real estate assets through various structures such as Sponsorship and “Co-GP” arrangements.
This news was reported by The Charlotte Business Journal, who noted that Cedar Grove had acquired Tower Place back in 2017 before selling it to GVA five years later.
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