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**BWE Secures $37.75M for Acquisition of Graces Reserve Apartments in Kannapolis, NC**
BWE has successfully secured $37.75 million in financing for the acquisition of Graces Reserve Apartments, a three-story garden-style apartment community located in Kannapolis, North Carolina, within the greater Charlotte metropolitan area.
The five-year loan was originated by BWE’s Maxx Carney, Dan Rosenberg, Logan Petersmeyer, and James Rogers on behalf of Guardian Capital and New York Life Real Estate Investors. In addition to acquiring the property, Guardian Capital plans to undertake a series of renovations to enhance the asset.
Constructed in 2021, Graces Reserve comprises 240 apartment units, offering one-, two-, and three-bedroom floor plans. Each apartment features private patios or balconies. Community amenities include a saltwater pool, a fitness center, and a dedicated pet park.
Located at 900 Graces Reserve Circle, the property is situated in one of the fastest-growing regions in the Charlotte metropolitan area. From 2020 to 2023, Kannapolis experienced a population growth of nearly 12%. Projections indicate that the surrounding county will see an additional increase of 50,000 residents over the next five years.
This acquisition represents a strategic investment in a rapidly expanding submarket, underlining the area’s strong demographic and economic growth.
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