Lion Real Estate Group acquired a two-property, 208-unit apartment portfolio in Charlotte that was rebranded as Creekside Canopy. The acquisition expands the firm’s Charlotte market presence to three assets and was made on behalf of Lion’s Fund III investment vehicle.

The properties are located immediately next to one another, allowing them to be operated as a single multifamily community. Reserve at Campbell’s Creek is located at 5616 Farm Pond Ln. and TheWoodlands is located at 6401 Woodbend Dr. in the desirable pocket of East Charlotte, 20 minutes east of downtown.

Lion’s Ben Kriegsman said, “We had a unique opportunity to purchase both properties out of foreclosure in a transaction with the prior sponsor’s lender, which was represented by John Phoenix and Gavin Conlon at Cushman and Wakefield. The Woodlands will see a full renovation program on the interiors and exteriors. Reserve at Campbell’s Creek was previously renovated. Investments in necessary deferred maintenance and upgraded amenities will also be made at both.”

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

AGB Real Estate has made a habit of buying run-down hotels and turning them into serviceable, affordable housing developments. The company bought the HomeTown Studios hotel at 1210 Murfreesboro Pike in Nashville for $9.5 million and plans to convert it into a 117-unit permanent supportive housing project.

The Nashville Business Journal reports that the project is expected to take less than six months to renovate and will welcome residents in September. AGB has completed two similar projects: Hermitage Studios, a 108-unit workforce and attainable housing development that opened in May 2023, and Wallace Studios, a 132-unit permanent supportive housing project that opened in April.

On its website, the company touts its agility, “By transforming underutilized assets such as hotels, motels, and senior living facilities, we can bring housing units to market in less than 12 months, more quickly meeting the surging demand for affordable housing.”

Toyota announced a new investment of nearly $8 billion that will add approximately 3,000 jobs at Toyota Battery Manufacturing North Carolina (TBMNC) in Liberty, NC. This brings total investment to approximately $13.9 billion and job creation to more than 5,000.

This investment adds capacity to support battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEV’s).

In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. With today’s announcement, Toyota North Carolina solidifies its position as the company’s epicenter of lithium-ion battery production in North America. Overall, the campus will boast seven million square feet, equating to 121 football fields of battery production.