The seller and developer financed the project with a $28.7 million construction loan from First Tennessee Bank in 2017.:
A partnership between Dominion Realty Partners and Edge Principal Advisors has sold The Palmer Apartments, a 318-unit community in Charlotte, N.C., to the Blackstone Group for $63 million. The Class A community encompasses 11 three-story buildings delivered in 2019. The unit mix has one-, two- and three-bedroom apartments with sizes between 613 and 1,262 square feet. Resident amenities at the property include a resort-style pool, a 4,500-square-foot clubhouse, a fitness center and a fully-equipped internet café.