Blue Heron acquired The Linden, a 2016-built, 162 apartment, 5,800 sq.ft. of retail mixed-use property located in Davidson, North Carolina, a highly-desirable sub-market of Charlotte. The property is located in the heart of a newly developed mixed-use community, adjacent to a new grocery anchor and is walkable to downtown Davidson and Davidson College.
Asset acquired in December 2018 at discount to replacement cost and other sales comparables in a supply-constrained sub-market.
Value-add plan to renovate select unit interiors, clubhouse, gym, business center, pool, and landscaping is in process.