Atlanta-based Cortland recently bought The Adley at Bryton near Charlotte, N.C. The new Class A 259-unit apartment community will be rebranded as Cortland Huntersville. Cortland now owns or manages 11 properties 5,560 units in the Charlotte area.
Cortland made the acquisition through its Growth and Income fund, which focuses primarily on acquiring high-quality, stabilized, or near-stabilized properties in certain targeted markets that reflect strong population and job growth. The property is located in Huntersville, N.C., which is about 14 miles north of downtown Charlotte.
“Cortland is well positioned to leverage our existing knowledge of this submarket, where we have participated since 2015 and currently own or manage nearby apartment communities Wren Northlake and Cascades at Northlake,” said Dan Irvin, a Cortland investment manager for the Mid-Atlantic region. “We’re excited to expand our presence in Huntersville and greater Charlotte through Cortland Huntersville, and we are thrilled to be a part of Bryton Town Center. We look forward to bringing our dedication to going above and beyond apartment living to our new residents.”
The property offers some of the largest floor plans in the area with an average unit size of 1,065 square feet, which is 60 square feet larger than the average unit size of comparable units in Huntersville. Amenities at the property include a clubhouse with a cyberlounge, a movie theater, a fitness center, a saltwater pool with cabanas, an outdoor kitchen, a dog park, a car care center, and a drive-through mail location.
