Chicago-based real estate firm Sherman Residential has returned to the Charlotte, North Carolina, multifamily market with the acquisition of a luxury community.
The firm, which had sold a Charlotte asset earlier this year, purchased the 348-unit Elan Research Park, located outside the University of North Carolina at Charlotte submarket and near Research Park, which includes 11 million square feet of office space that includes Wells Fargo, Vanguard, TIAA, and Atrium Health.
The garden-style community, which was built in 2023 by Greystar Real Estate Partners in partnership with Duck Pond Realty, has been rebranded as Axis at The Park. It comprises studio to three-bedroom apartments as well as two-story townhomes with attached garages. Units feature luxury finishes, such as quartz countertops and black matte fixtures, and washers and dryers.
Outdoor amenities include a resort-style pool, lounges, fireplaces, a pickleball court, and two gated dog parks. Indoors, residents have access to a 24-hour fitness center as well as private offices and group booths for work and study. In addition, the community offers Level 2 electric-vehicle chargers.
“We’re excited to return to North Carolina after the successful sale of a Charlotte asset earlier this year,” noted a vice president with the firm. “Axis at The Park’s modern design and desirable submarket will make it a great addition to the Sherman portfolio.”