Dynamic Market with Strong Growth Drivers

Driven by its business-friendly environment, relative affordability, and strong growth engines in financial services, energy and power, and information technology, Charlotte’s job and population growth has been ~3x the national average over the past five years. Cadre’s own data science team identifies Charlotte within the “Cadre 15”, one of the 15 top markets with strong potential for risk adjusted returns.

Continued Urban Densification

Numerous recent job announcements and relocations have prioritized the urban core, tens of thousands of new jobs from companies like Truist Bank, Lowe’s, USAA, Honeywell, LendingTree, and Robinhood. Atrium Health, Wake Forest Baptist Health and Wake Forest School of Medicine have selected Midtown to build Charlotte's first four-year medical school, which will support ~3.5k students each year.

This has led to 7.4mm sf of office construction, 10k new multifamily units, and 1,750 hotel keys. This rapid densification has brought a dynamism to the urban core that is now emanating outward to other submarkets like NoDa.

Compelling Transaction Dynamics

An attractive land basis and lower density construction type allows the Project to offer a 30%+ rent discount to high-rise construction that is increasingly being built in the nearby urban core, less than one mile away. Cadre has already closed the land at a contract price from 2018, and has executed a construction contract with the general contractor. Investors will be investing in a shovel-ready project.