Atlanta developer RangeWater buys lower South End site for apartment project

Press Release

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By Elise Franco | Staff Writer, Charlotte Business Journal

An Atlanta developer paid more than $12 million for property in lower South
End, where it will put its next apartment project.

RangeWater Real Estate purchased 3.79 acres at 4700 Nations Crossing Road
from an LLC by Carolina Capital Real Estate Partners' in a $12.2 million sale that
closed April 28, according to Mecklenburg County real estate records. The
project, called The Kingsman, will be a 350-unit community with studio, one-,
two- and three-bedroom apartments ranging from 543 to 1,519 square feet.
Amenities will include a dog park and spa, resort-style pool, clubhouse,
coworking spaces, micro-offices, outdoor grills and fireplaces, fitness center and
sky lounge with unobstructed views of uptown.

Palmer McArthur, RangeWater managing director of development for the
Carolinas and Tennessee, said the firm's investment in the property is further
proof that they believe in lower South End's strength as a submarket.

“Having quickly emerged as a highly desirable location for residents seeking a
dynamic urban lifestyle, we are excited to further contribute to the
neighborhood’s positive growth," he said.

Construction is expected to begin later this month and will deliver in April 2025.

Steven Shores, RangeWater chairman and CEO, said Charlotte will continue to be
a target market for the firm to develop, acquire and manage properties.

The Kingsman will be RangeWater's ninth multifamily development in Charlotte;
others include Artizia in LoSo and The Raven at Tremont, a 261-unit community
in South Endslated for completion this fall. The firm manages more than 5,800
units in the market.