Beach Real Estate Funds (BREF), an affiliate of The Beach Company,

announces its acquisition of The Everlin at Indian Trail (“The Everlin”), a 2017-built garden-style community located southeast of central Charlotte.

Formerly known as Provenza at Indian Trail, The Everlin marks the fourth investment for Beach Investment Fund II, joining properties in Charlotte, N.C., Orlando, Fla., and Greenville, S.C.

The Everlin delivers a modern standard for comfortable, high-quality living.  The 204 one-, two-, and three-bedroom apartments feature upscale finishes such as granite countertops, stainless steel appliances, walk-in closets, and private balconies or patios. Residents enjoy a robust amenity package including a resort-style swimming pool with lounge deck, 24-hour fitness center, clubroom with gourmet coffee station, gas grilling stations, an off-leash dog park, and scenic walking trails surrounding a community pond. Located 16 miles southeast of Uptown Charlotte, the property offers convenient access to I-485, Independence Freeway, and the Monroe Expressway, as well as proximity to retail, dining, cultural attractions, and major employment centers.

“The Everlin at Indian Trail is a high-quality, low-density community that blends strong in-place curb appeal with a real opportunity to enhance long-term value for both residents and stakeholders,” said Ward McCarthy, Director, Investment Management for Beach Real Estate Funds. “The property’s solid construction and strong sponsorship to date provide great bones to build upon.  BREF has planned a series of targeted enhancements to amenities, common areas, and interiors to further elevate the resident experience and ensure The Everlin can stand alongside newer product in the market. We believe The Everlin is an accretive and complementary addition to our Fund II investment portfolio, and is a testament to the BREF team’s ability to source and execute on high quality assets despite ongoing broader market volatility.”

The Everlin’s Union County location offers a unique combination of robust economic growth and meaningful barriers to entry that has helped the submarket avoid the oversupply pressures facing many high-growth southern markets.

“Union County’s sustained expansion, coupled with limited new supply, has allowed the submarket to sidestep the challenges seen in other southern boom markets,” said BREF Acquisitions Manager Darby Parker. “This dynamic is reflected in Everlin’s strong operating performance, with cumulative income growth and occupancy averages outperforming the broader MSA over the past 5 years.  Acquiring this community below today’s replacement cost is a key function of this investment strategy, allowing the property to benefit from the market’s continued expansion and the asset’s long-term value potential.”

As a strategic addition to Beach Investment Fund II, The Everlin at Indian Trail embodies BREF’s dedication to long-term value creation and operating properties that meet the needs of today’s renters.

Northmarq‘s Andrea Howard and John Currin facilitated the sale on behalf of the seller, and Northmarq’s Debt and Equity platform, led by Grant Harris and Cabell Thomas, facilitated the Fannie Mae financing.