Lion enters Charlotte, N.C., market with off-market multifamily property acquisition

Lion Real Estate Group has announced the acquisition of The Apartments at Radbourne Lake, a 225-unit multifamily property in Charlotte, N.C. The asset is the company’s first in the Charlotte market and expands Lion’s multifamily portfolio to 29 communities across five states. The property was sourced off-market for an undisclosed price.

“Radbourne Lake is our third acquisition in LREG Multifamily Fund III LP and represents Lion's entry into Charlotte, N.C.,” said Ben Kriegsman, director of acquisitions at Lion. “Lion is committed to growing in North Carolina through acquisitions of value-add apartment buildings in both Charlotte and Raleigh-Durham and is actively seeking acquisition opportunities in both of these MSAs.”

The class B property is located at 3209 Westbury Lake Drive in Charlotte, N.C., and has been well-maintained and managed throughout the seller’s 10-year ownership. The disposition was timed with the seller’s debt maturity and provided an