Trei sells first residential real estate project in United States

Trei Real Estate, an international developer and owner of residential and retail real estate, and local development partner Proffitt Dixon Partners have completed and sold Briley, a multifamily community in Charlotte, N.C., Trei’s first stateside development.

The project, which commenced construction in January 2019, includes 359 rental apartments and a combined residential area of 355,209 square feet.

The property, which is approximately 85 percent leased, has been acquired by a U.S. institutional investor for €120 million ($140 million).Pepijn Morshuis, the CEO of Trei Real Estate, said, “Our activities in the United States have picked up steam this year: In addition to the project sold in Charlotte, we are in the process of developing four more multifamily projects. One of them, located in Charleston, S.C., has been under construction since 2020, two kicked off construction this fall, in Nashville, Tenn., and Charlotte, N.C., and one will begin next year, in C