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H&R REIT unit buys NC community for $84M

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H&R REIT unit buys NC community for $84M

H&R Real Estate Investment Trust unit Lantower Residential purchased a 375-unit multifamily property in Charlotte, N.C., for about $84.4 million, the Charlotte Business Journal reported, citing Mecklenburg County real estate records.

The property, formerly known as Solis Waverly, sits on 13 acres within the Waverly mixed-use development. It was sold by an affiliate of its developer, Terwilliger Pappas Multi-Family Partners LLC, and was rebranded Lantower Waverly, the publication noted.

The property features a saltwater pool with sundeck and cabanas, fitness center, dog park, clubroom with lounge and game room, elevators, a media center and movie theater, and electric car-charging stations, according to the publication.