Preferred Apartment Communities (PAC) has acquired Solis Chestnut Farm, a 256-unit class A multifamily community in Charlotte, N.C.
Jeff Sherman, the company’s president of multifamily, said, “Chestnut Farm is a second-to-none, class A property in the affluent Charlotte suburb of Matthews. Additionally, Chestnut Farm is uniquely advantaged with an inimitable amenity — a 265-acre park directly connected to the property, providing our residents a true live-play experience. Charlotte is a target market for us that has seen, and we believe will continue to see, tremendous population and job growth. This acquisition provides us with the premier property in a rapidly growing Charlotte submarket and positions us to fully capitalize on these favorable demographic tailwinds.”
Joel Murphy, the company’s chairman and CEO, said, “Now, with the acquisition of Chestnut Farm in Charlotte, we have acquired, in the first three quarters of the year, five properties totaling
