324 Units • Charlotte, NC • Canopy at Baybrook
CANOPY AT BAYBROOK
Year built: (Phase I) 1986/(Phase II) 1988
Location: Charlotte, NC <6609 Reafield Dr, Charlotte, NC 28226>
Acquired: February 2019
Purchase price: $50.3M
1031 exchanges: 6
Equity invested: $19.1M
CapEx budget: $2.9M
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In the News
links here to various news articles about this property.
Canopy at Baybrook marked IMG’s 7th acquisition in North Carolina and its 23rd in the Southeastern United States.
The 324-unit property boasts close proximity to two of the city’s most coveted neighborhoods: Ballantyne and South Park. A high concentration of growing employers is found along the Ballantyne, South Park and the Highway 51 corridor all within a 15-minute drive of the property. Families are moving to this neighborhood for its zoning within some of Charlotte-Mecklenburg County’s top “A”-rated schools.