Dome Equities, LLC today announced the acquisition of Brookson Resident Flats, a 296-unit, Class A+ apartment community in Huntersville, North Carolina, located within the North Charlotte submarket of the Charlotte MSA. Brookson is located near an abundance of employers, entertainment, and retail.
The Charlotte MSA contains a diverse economy that hosts the headquarters of seventeen Fortune 1000 companies and seven Fortune 500 companies. Largely known as a hub for banking, Charlotte’s economy continues to diversify thanks, in part, to the success of University Research Park, which is the fifth largest research park in the country and is connected to the University of North Carolina at Charlotte. Manufacturing, logistics, defense and security, and healthcare have experienced significant growth in the Charlotte region over the past decade. With exceptional market access, a talented labor pool, several highly-regarded universities within a three-hour drive, and extremely low unionization rates, employers are continuously drawn to the area.
Brookson is located within the 430 acre Bryton Park master plan mixed use development. The property was recently completed and is in the final stage of its initial lease-up. Brookson has impressive natural and man-made amenities. It also abuts a protected natural area which inspired design elements throughout the clubhouse, pool, grilling area, picnic area and outdoor sitting/playroom area.
According to Eric D. Jones, Dome Equities’ Chief Investment Officer, “Our investment in Brookson Resident Flats provides us exposure to a Growth Corridor within a high growth MSA. The recently completed I-485 outer loop less than 1 mile south of the property is expected to accelerate the economic expansion in this region.”
Dome’s apartment portfolio of 30 properties totals $1.2 billion.