Dallas’ Vive Funds Acquires 400-Plus Unit Multifamily Property in Charlotte, North Carolina
Real Estate - 195News originally published at Real Estate - 195NewsThe third-fastest-growing major U.S. city saw quarterly appreciation of 6.5%.
Vive Funds, a Dallas-based real estate investment firm that specializes in curating opportunities for high-net-worth investors, recently acquired a 400-plus unit multifamily property in the growing metro area of Charlotte, North Carolina.
The property has 408 units and has performed well historically.
"Rents have grown organically, even before renovations and our value-add strategy were implemented, this is a good investment for investors seeking high returns on multifamily properties," said Veena Jetti, founder of Vive Funds. "Charlotte is a booming real estate investment hub, especially in the multifamily market, and presents a strong opportunity for those looking to diversify their portfolios."
The development is in close proximity to Charlotte's largest employment centers, universities, and the Uptown Charlotte central business district, with an estimated employee base of more than 200,000. It is also 3.5 miles from Concord Mills-a 1.3 million square-foot mall-and near PNC Music Pavilion and Charlotte Motor Speedway.
Rental prices in Charlotte are on par with national averages, as the average rent rose 17% in Charlotte to $1,439. According to analysis by Zumper, the nation's third-largest real estate platform, rent prices rose 12% in 2021. The average price of a one-bedroom apartment across the United States reached $1,374 in January 2022.
Data from Norada Real Estate Investments found Charlotte's real estate appreciation rate in the latest quarter was around 6.54%, which equates to an annual appreciation rate of 28.85%.
Charlotte also has a record of being one of the best long-term real estate investments in the United States due to high demand and low inventory. Since March 2012, the average home value in Charlotte appreciated by 132.3%.
Vive Funds offers investment opportunities for accredited and high-income investors interested in
adding multifamily to their portfolio. Vive Funds serves hundreds of accredited investors nationwide and has met or exceeded 100% of pro forma projections to date. To learn more, visit www.vivefunds.com.
About Vive Funds
Vive Funds was launched to fulfill our mission of carefully curating high-quality real estate investments. Our innovative strategy and our detailed process drive our core value of investor-centric projects. Vive has developed a rich network of global business partners to make early and transformational investments in assets that have the potential to do great things.
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Original Source: Dallas' Vive Funds Acquires 400-Plus Unit Multifamily Property in Charlotte, North Carolina
Real Estate - 195News originally published at Real Estate - 195News