-- Well, I’ll be… Goldrich Kest, one of California’s largest and most successful privately-owned real estate investors, builders, and property managers, is betting big on the South again with the acquisition of two apartment complexes in Charlotte, North Carolina. Right on the heels of purchasing two multi-family properties in Atlanta, Georgia, the company is recognizing the tremendous potential and growth of the South, says CEO Michael E. Drandell.
“We see tremendous opportunity in the Southern states and North Carolina, in particular, is very desirable,” he says. “For instance, the job market in Charlotte experienced an increase of 2.7% over the past year and that trend is expected to continue with projections that it will rise to 45.2% over the next decade. You can compare that with the US average, which is expected to increase by 33.5%.”
Among the acquisitions are the Sterling Magnolia Apartments, a four-story, 174-unit property featuring one-, two- and three-bedroom apartments across six buildings ranging in size from 710 to 1,976 square feet. All units include nine-foot ceilings, washer/dryers, and patios or balconies and some even offer granite countertops and stainless-steel appliances. Spread over 3.76 acres, the complex boasts a swimming pool, outdoor kitchen, outdoor fireplace, fully-equipped fitness center open 24/7, business center, valet dry cleaning, and package lockers. The building offers controlled access and each building offers ground-level parking for added convenience.
The 82-unit Cedar Flats Apartments contains one- and two-bedroom apartments that range in size from 659 to 1,214 square feet. The interiors feature nine to ten-foot ceilings, stainless steel appliances, quartz countertops, large kitchen islands, full-size washer/dryers, walk-in closets and patios or balconies. Some units even offer views of the downtown Charlotte skyline. Tenants of the 1.2 acre complex enjoy a swimming pool, outdoor kitchen, fully equipped fitness center open 24/7, game room, bike repair station, and an executive conference room. Safety is enhanced thanks to controlled access to both the building and parking garage,
Recognized as one of the nation’s most successful real estate companies, Goldrich Kest is a privately-owned family-run business that can trace its origins back more than 60 years to two entrepreneurs, Jona Goldrich and Sol Kest, who parlayed their meager savings into a real estate empire.
Today, their descendants, known within the company as “G2: The Next Generation,” continue to build upon the eponymous company’s ever-expanding portfolio of residential, commercial, industrial, and retail projects. Among them are 125 apartment buildings with 13,864 units, 2,087 boat slips at 5 California marinas, 22 senior living facilities with 4,220 beds, and scattered throughout the US, more than 6 million square feet of commercial and industrial space. Goldrich Kest is committed to continuing its support and contribution to providing affordable housing to the residents and communities it serves. For more information about the company, visit goldrichkest.com.
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Release ID: 88997381