Crescent Communities has sold the luxury, garden-style NOVEL Research Park, by Crescent Communities, a multi-housing community within University Research Park in Charlotte, N.C.
RK Properties purchased the property for $69.5 million.
Developed by the seller in 2019 in a joint venture with Phoenix Capital Holdings, LTD, the community sits on 19.3 acres and totals 271,600 square feet and consists of one-, two- and three-bedroom units. The apartments are also equipped with fenced-in pet yards, quartz countertops, eat-in kitchen islands, LED ceiling lighting, double-sink vanities and various unit finish options. Community amenities include a hammock garden, grilling station, outdoor shuffleboard court, saltwater pool, poolside bar, fitness center featuring top-of-the-line equipment such as a Peloton bike, oversized pet park, and coworking booths and micro-offices.
Charlotte’s vibrant University Research Park submarket is home to 23 Fortune 500 company offices and
