In a recent interview, Lucern Managing Partner and Chief Investment Officer Frank Forte spoke with the Charlotte Business Journal about Lucern’s latest transaction.
In a recent interview, Lucern Managing Partner and Chief Investment Officer Frank Forte spoke with the Charlotte Business Journal about Lucern’s latest transaction: the disposition of Thompson Place Apartments.
Lucern began investing in the MSA in 2016 as a short-term strategic investor, typically holding assets for three to five years. In 2021, the firm acquired Thompson Place Apartments and made various capital improvements to elevate the property and its value.
Frank referred to the property as a “rare gem” in Charlotte because of its floor plans, particularly the 4-bedroom units.
“Charlotte is a very strong market with great economic tailwinds, job growth and wage growth. But also, the rarity of the larger floor plans, especially in Charlotte, cannot be understated. We left real opportunity for them,” shared Frank Forte.
Read the article here.