Our Portfolio

318 Units — Charlotte

StoneRidge IMG NC 1
StoneRidge IMG NC 2
StoneRidge IMG NC 4
StoneRidge IMG NC 3
StoneRidge IMG NC 5

Stone Ridge Apartments

Units: 318
Year built: 2001
Location: Charlotte, North Carolina
Submarket: Southwest Charlotte
Acquired: March 2020
Purchase price: $52.9 million
Total investors: 128
1031 exchanges: 6
Equity invested: $21.5 million

CapEx budget: $2.5 million

Investment Highlights

Stone Ridge has benefitted from its location directly in Charlotte’s path of employment and population growth over two decades. Within the three-mile radius surrounding the property, the population surged an impressive +25% from 2010-2019, bringing with it strong demographics and a high-quality resident profile.

Stone Ridge maintains strong financial performance fueled by an enhanced amenity set, a variety of floor plans, and a location within one of Charlotte’s largest job districts.

IMG’s value-add acquisitions in North Carolina have all benefitted from cosmetic upgrades to drive rent premiums.