Argyle Real Estate Partners Acquires 303-Unit Indigo at Cross Creek in Charlotte MSA

TAMPA, Fla., May 9, 2023 /PRNewswire/ -- Argyle Real Estate Partners (Argyle), a real estate investment firm focused on multifamily acquisitions in the Southeast and Texas, today announced the acquisition of Indigo at Cross Creek in Indian Land, SC within the greater Charlotte MSA.  Cadre, a real estate investment firm that has invested over $4B of real estate, serves as the joint venture partner on the deal.

"We're pleased to partner with Cadre on such a quality, off-market opportunity," said Ryan Reyes, CEO of Argyle. "Our objectives are aligned, and with Indigo at Cross Creek being so strategically located in the epicenter of such a robust submarket, it's a great first venture for us to embark on together."     

A 303-unit community, Indigo at Cross Creek was built in 2017 and features spacious 1, 2, and 3-bedroom apartments with units averaging nearly 1,150 square feet.  All units offer best-in-class amenities such as stainless-steel appliances, granite countertops, tile backsplash, washer-dryer combos, 9' ceilings, and bathrooms furnished with double vanities, while premium exterior amenities include a fully equipped resort-style pool with a cozy lounge/entertainment area featuring outdoor kitchens, a synthetic turf putting green, a bocce ball court, and a lavish clubhouse that offers access to both business and leisure resources for residents to enjoy.

Indigo is approximately 30 minutes from Uptown Charlotte and 10 minutes from the Ballantyne suburb, an affluent and highly desirable area with numerous major employers, top schools and trendy retail and restaurants. 

"Charlotte has seen tremendous positive migration over the last several years given its explosive job growth and lower cost of living compared to other major cities with similar demographics," said Mike Cacciatore, Principal for Argyle. "The Indian Land and Ballantyne submarkets have similarly experienced rapid growth during this same time period and are poised to continue doing so.  These positive tailwinds made Indigo an attractive investment."

Rangewater Real Estate will serve as the property manager for Indigo at Cross Creek.     

SOURCE Argyle Real Estate Partners