Investors Management Group (“IMG”), Inc. recently acquired Bridges at Quail Hollow, a 90-unit townhome community in Charlotte, NC. The acquisition closed March 1, 2017.
Unique opportunity to purchase a B-quality asset in an upscale neighborhood with strong upside in rents. IMG’s business plan includes a value-add component along with improved management to capitalize on a rising market.
By far the largest city in North Carolina, Charlotte‘s population has expanded at a pace three times faster than the National Index average over the last decade and is forecasted to hit the 3 million mark by 2030.
Bridges at Quail Hollow is located in the wealthy and rapidly growing SouthPark area ($92,000/avg. household income). The prestigious, neighboring Quail Hollow Club is set to host the 2017 PGA Championship.
“The Queen City is shining bright and enjoying healthy market fundamentals.”
CoStar, Dec. 2016