Date of Acquisition
September 2017

Scope of Transaction
$50.4 million

Number of Units
312

Funding
65%

Equity
$17.5 million

Investment by Brightman-Gil
$1 million / 6% of the equity
INDIAN LAND
Charlotte, NC

Indian Land is a development of 312 multifamily units located south of Charlotte, North Carolina.

Recent legislation that makes the acquisition of new building permits extremely difficult has raised entry barriers. However, as a result of our local prescence, we were able to obtain a preliminary permit for the project before the new legislation was enacted.

In this area, the population increased by 30% between 2010-2015. Furthermore, the median income per household within three miles of the property is high, and the local schools are highly rated. 

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Transaction Details

09/2017
Acquisition

$50.4M
Scope

312
Units

65%
Funding

$17.5M
Equity

$1M
B&G Invested