One Real Estate Investment acquires Axiom Apartments
Charlotte, North Carolina – Jeronimo Hirschfeld, President and CEO of One Real Estate Investment (OREI), announced the purchase of a 202-unit apartment community in Charlotte, North Carolina.
Axiom Apartments built in 1987 is located at 5625 Keyway Blvd, NC 28215 is conveniently located just 25 minutes from downtown Charlotte. OREI intends to do exterior and amenity renovations which include but are not limited to updating the clubhouse, gym, pool, landscape, asphalt, and paint. In addition to exteriors, OREI will implement an interior unit renovation program, upgrading counters, cabinets, appliances, lighting and plumbing fixtures, while simultaneously completing flooring upgrades that were started by the previous ownership.
The deal was brokered by Cushman and Wakefield in a broad marketing effort. OREI was selected as the buyer in a competitive bidding process due to certainty of execution and a relationship with the seller from a prior completed transaction. Axiom Apartments will be the fourth deal brokered by Cushman and Wakefield, of the seven assets OREI has acquired in 2019.
“We are very happy with this acquisition,” stated Hirschfeld. “As Charlotte has seen substantial growth in both population and employment, it has been a market that we have been targeting and we are excited to add this property to our portfolio.”
About One Real Estate Investment
Founded in 2001, One Real Estate Investment (“OREI”) is a privately owned, Miami-based real estate investment and asset management company. OREI is a disciplined investor, manager, and operator focused on acquiring multifamily assets in the Southeast United States and Texas. The firm’s expertise is in executing and managing a strategic asset repositioning, amenity upgrade, and operational optimization programs to maximize value for its tenants, investors, and communities in which it invests. The firm’s deals are capitalized by proprietary funds and programmatic relationships with institutional, family office, and ultra high-net-worth capital partners.
OREI has over 4,000 units under management nationally and has acquired and sold over 8,000 value-add multifamily units since its inception.