Cortland pays $213m for apartment portfolio
Cortland Partners has purchased a 2,571-unit apartment portfolio from McDowell Properties for $213.7 million. Seven of the properties are located in Charlotte, N.C. and the other property is located in Matthews, N.C. All of the apartments are garden-style complexes. The highest priced property was the 340-unit The Pointe, which sold for $36.5 million. And the largest is the 420-unit Sardis Place, which sold for $33.5 million.