The Flats at Arrowood
Charlotte, North Carolina
In February 2018, Blackfin acquired The Flats at Arrowood, a class C, 301-unit garden-style apartment community located in the North Pineville submarket of Charlotte, NC. The property occupies a prime transit-oriented location and is within walking distance to the Arrowood LYNX Blue line light rail stop, giving residents immediate access to a wide range of employment, retail, and entertainment destinations throughout Charlotte. This investment provides Blackfin with the opportunity to acquire an off-market, privately owned/managed asset at a discount to replacement cost. Blackfin is focused on unlocking significant rental upside through targeted value add improvements to both unit interiors and amenity spaces and rebranding. In addition, Blackfin will improve operational inefficiencies by implementing institutional property management practices and by curing deferred maintenance issues. Upon successful completion of its business plan, Blackfin believes this asset will distinguish itself within the community as a unique place for residents to call home.